Reported 9 months ago
A federal judge in New York, Margo Brodie, stated that Visa and Mastercard are likely strong enough to handle a settlement greater than the $30 billion agreement rejected this week by merchants. The rejected accord aimed to lower and cap swipe fees paid by merchants to process Visa and Mastercard transactions. The judge highlighted that the proposed changes fell short of providing the best possible recovery and did not adequately address antitrust violations, keeping fees above where they would be without violations.
Source: YAHOO