DOJ To Score $7M In Credit Card Settlement

Law360, New York (January 4, 2007, 12:00 AM EST) -- In a move that may resolve a drawn-out dispute stemming from a 2003 billion-dollar settlement fund in an antitrust class action against Visa USA Inc. and MasterCard International Inc., the U.S. Department of Justice has reached a proposed settlement with a class of merchants and the credit card giants.

The DOJ stands to collect about $7.2 million after filing a claim against Visa and MasterCard for allegedly forcing its agencies to accept their signature debit card transactions at supracompetitive prices and for allegedly trying to monopolize...
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