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Swipe Fee Settlement Could Cost Visa and Mastercard Billions More – Financial Expert Warns of Severe Retail Credit Card Consequences

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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 …

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Swipe Fees Settlement Worth $30 Billion Rejected by Federal Judge – What’s Next for Visa and Mastercard?

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New York, NY – A federal judge in New York rejected a proposed $30 billion settlement on Tuesday that aimed to put a cap on the fees Visa and Mastercard charge merchants for credit and debit card transactions. The decision raises concerns about an agreement reached in March to resolve long-standing legal disputes over swipe fees. U.S. District Judge Margo Brodie of the Eastern District of New York indicated in a memo that she was …

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