Wells Fargo Shut Out Of Visa, MasterCard Antitrust Deal

Law360, New York (November 20, 2009, 6:04 PM EST) -- A federal judge has declined to allow Wells Fargo Retail Finance — as a secured creditor to certain bankrupt class members — to participate in a multibillion-dollar retailer antitrust settlement with Visa USA Inc. and MasterCard International Inc., saying that the lender was too late in filing its claim.

Judge John Gleeson issued a ruling Thursday in the U.S. District Court for the Eastern District of New York finding that Wells Fargo failed to establish "excusable neglect" for failing to submit its claim to the settlement...
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