Visa, Mastercard Defend Card Fee Settlement

Visa, Mastercard defend card fee settlement

Large merchants argued in a Monday court hearing that card surcharges and discounts would pose significant burdens on their businesses.

Retailers Object to $200 Billion Visa-Mastercard Swipe Fee Settlement

Retail groups are reportedly fighting a proposed $200 billion antitrust settlement against Visa and Mastercard. That settlement, stemming over a long-running case involving what are known as interchange fees or “swipe fees,” was the subject of a federal court hearing Monday (April 27). As Bloomberg News reported, groups representing major retailers such as Walmart told U.S. District Court Judge Brian Cogan they oppose the settlement. C…