Tag Archives: Jessica Dye

Jessica Dye – Visa, Mastercard, Banks In $7.25 Billion Retail Settlement – 15 July 2012

(Reuters) – Visa Inc, MasterCard Inc and banks that issue their credit cards have agreed to a $7.25 billion settlement with U.S. retailers in a lawsuit over the fixing of credit and debit card fees in what could be the largest antitrust settlement in U.S. history.

The settlement, if approved by a judge, would resolve dozens of lawsuits filed by retailers in 2005. The card companies and banks would also allow stores to start charging customers extra for using certain credit cards in an effort to steer them toward cheaper forms of payment.

The settlement papers were filed on Friday in Brooklyn federal court.

Read the whole story at: http://www.reuters.com link to original article first published 13 July 2012.