US federal judge rejects $30bn credit-card swipe fee settlement between Visa, Mastercard, and retailers.
A US federal judge rejected a $30 billion settlement between Visa, Mastercard and retailers to cap credit-card swipe fees. The ruling by Judge Margo Brodie requires the parties to confer and respond by June 28. The settlement, if approved, would have allowed retailers to charge consumers extra for transactions involving Visa or Mastercard credit cards and adopt pricing tactics to steer consumers to lower-cost cards.
June 25, 2024
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