CREDIT CARD FEES REJECTED: Visa and Mastercard face trial over ‘severe’ consequences for merchants
Brooklyn, New York – A federal judge in Brooklyn rejected a proposed $30 billion antitrust settlement between Visa and Mastercard and a group of merchants, primarily consisting of small businesses. District Judge Margo Brodie made it clear that she was unlikely to approve the settlement, which aimed to limit the fees charged by the credit card companies to merchants who accept their cards. The decision was met with opposition from various merchant groups, including the …