Swipe Fee Settlement Could Cost Visa and Mastercard Billions More – Financial Expert Warns of Severe Retail Credit Card Consequences
NEW YORK, NY – In a recent development, a federal judge expressed skepticism about the proposed $30 billion settlement between card issuers Visa and Mastercard and merchants regarding swipe fees. Judge Margo Brodie of the Eastern District of New York hinted that the card issuers could likely withstand a significantly larger settlement than the one she rejected last week. The dispute around swipe fees, also known as interchange fees, has been ongoing since 2005. The …