Federal Judge Blocks Massive Swipe Fee Settlement Between Visa and Mastercard

Published on June 25, 2024

A federal judge on Tuesday rejected a $30 billion antitrust settlement between Mastercard and Visa in which they had agreed to limit fees they charged for retailers who take their debit and credit cards. U.S. District Judge Margo Brodie in New York wrote that she was “not likely to grant final approval” of the two corporations’ settlement, which was announced in March. As a result, she denied the companies’ request for preliminary approval. The judge has not yet issued a written ruling. The judge then directed the credit card companies and other parties to submit proposed redactions before June 28 and explain why....

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