Friday, January 17, 2014

Visa, MasterCard Facing New Suit Over Merchant Fees

Law360, New York (January 15, 2014, 8:40 PM ET) -- Visa Inc. and and MasterCard Inc. were hit with a new antitrust suit in New York federal court Tuesday from nearly 30 big-name retailers accusing them of conspiring to fix credit card swipe fees, on the heels of a historic $7.25 billion settlement of similar claims that failed to appease many merchants.

In the new complaint, Hewlett-Packard Co., toys r us credit card R Us Inc., Bed Bath & Beyond Inc., Forever 21 Retail Inc. and many others alleged Visa and MasterCard colluded with banks to manipulate the fees they...

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