XLF - Judge Tosses The Card: Visa-Mastercard Swipe Fee Settlement Reportedly Rejected | Benzinga
On Tuesday, U.S. District Judge Margo Brodie reportedly dismissed a $30 billion antitrust settlement in which Visa Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA) had agreed to cap the fees they charge merchants for accepting their credit and debit cards.
The decision could compel Visa and Mastercard to negotiate a more favorable settlement for merchants or proceed to trial, Reuters reports.
Related: Visa, Mastercard’s $30B Deal Hits A Snag: Judge Signals Rejection
Numerous merchants and trade groups, including the National Retail Federation, opposed the agreement, arguing that card fees would still be too high and that Visa and Mastercard ...