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The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...
Within days of the court ruling, Discover filed a lawsuit in federal court seeking damages from Visa and MasterCard. In October 2008, DFS was awarded $2.75 billion in damages, the third largest settlement at the time in U.S. history.
The settlement is in addition to a 2023 financial $5.54 billion settlement between Visa and Mastercard and 18 million businesses that accepted Visa or Mastercard during a 15-year period up to Jan ...
A deadline is looming for millions of businesses who may be entitled to a payout in a $5.5 billion antitrust settlement with Visa and Mastercard. The settlement stems from a 2005 lawsuit that ...
Ohio v. American Express Co., 585 U.S. ___ (2018), was a United States Supreme Court case regarding the nature of antitrust law in relationship to two-sided markets.The case specifically involves policies set by some credit card banks that prevented merchants from steering customers to use cards from other issuers with lower transaction fees, forcing merchants to pay higher transaction fees to ...
Last month's announcement that Capital One Financial will acquire Discover Financial for $35.3 billion was major news in the banking industry because it represents the biggest-ever deal in the ...
In 2007, the firm agreed to pay $46 million (~$65.1 million in 2023) to settle a class action lawsuit brought by eight female brokers. [95] In July 2004, the firm paid NASD a $2.2 million (~$3.4 million in 2023) fine for more than 1,800 late disclosures of reportable information about its brokers. [96]
The case, filed in 2001, alleged that Visa , MasterCard , Diners Club, and a handful of credit card-issuing banks concealed credit and debit card fees on foreign currency transactions or sales by ...