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Visa and Mastercard propose new settlement by end of 2024?
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Brooklyn Judge Rejects $30 Billion Swipe-Fee Settlement Between Visa, Mastercard and Retailers on Tuesday
Jun 25, 2024, 03:13 PM
A federal judge in Brooklyn has formally rejected a $30 billion settlement between Visa, Mastercard, and retailers aimed at capping credit-card swipe fees. The settlement, which was proposed as an antitrust measure to limit fees charged to merchants for accepting credit and debit cards, faced scrutiny earlier this month, telegraphing a potential setback. The judge's decision on Tuesday blocks Visa and Mastercard from moving forward with the proposed agreement, impacting the financial dynamics between the card issuers and merchants.
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Investigation results in fines • 25%
Investigation results in breakup • 25%
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DOJ wins • 25%
Visa wins • 25%
Settlement reached • 25%
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Visa changes its business practices • 25%
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Visa introduces new competitive products • 25%
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