Judge Approves Credit Card Cos. Settlement

By Erin Coe

Law360, New York (November 09, 2006, 12:00 AM ET) -- A federal judge has given preliminary approval to a $336 million settlement with banks and credit card companies accused of breaching federal and state antitrust laws by colluding to fix foreign-currency fees.

U.S. District Judge William H. Pauley granted the settlement Wednesday in the U.S. District Court for the Southern District of Manhattan in a consolidated case in which several banks and credit card groups stood accused of colluding to fix foreign-currency fees.

The defendants in the suit include units of MasterCard Inc., Visa International, Bank...
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