Target Profits Boosted by $593M Payout in Antitrust Credit Card Settlements

Target profits boosted by $593M payout in antitrust credit card settlements

Target’s latest quarterly profits would have been much worse if it had not received $593 million in settlements from an antitrust lawsuit against Visa and MasterCard that was filed a dozen years ago.

Settlement in credit card antitrust suit boosts Target profits

The settlements worth $593 million date to a lawsuit filed 12 years ago. Target and other big retailers sued Visa and MasterCard, saying they colluded to keep credit card swipe fees high. The fees are what merchants pay every time a customer uses a credit or debit card.