Reported 7 months ago
A proposed $30 billion antitrust settlement between Visa, Mastercard, and merchants to limit credit and debit card fees is in danger of being rejected by a New York judge. U.S. District Judge Margo Brodie signaled her likely disapproval of the accord, which aimed to address complaints of excessive swipe fees and anti-steering practices by the card networks. The settlement, announced in March, faced objections from groups like the National Retail Federation, calling it insufficient and allowing Visa and Mastercard to continue dictating swipe fees.
Source: YAHOO