Visa, MasterCard Sue Interchange-Fee Settlement Drop Outs

Bloomberg | May 24, 2013

Visa Inc. (V) and MasterCard Inc. (MA) sued trade groups and retailers that rejected a $7.25 billion settlement in a price-fixing suit and asked a court to rule that the card companies’ fee practices weren’t illegal.

“After years of negotiation, the same retailer trade groups that willingly agreed to a multibillion dollar settlement are now turning around and demanding even more,” said Trish Wexler, a spokeswoman for a coalition representing the interests of the payment card industry. “Enough is enough — these tired old arguments and this battle needs to be put to bed.”

 

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