Canada Targets Visa, MasterCard Over Merchant Rules

Law360, New York (December 15, 2010, 4:02 PM EST) -- Canada's competition watchdog on Wednesday challenged the rules Visa Inc. and MasterCard Inc. apply to merchants that accept their credit cards, accusing the financial giants of using anti-competitive agreements that drive up prices for consumers.

The Canadian Competition Bureau filed an application with the Competition Tribunal in a bid to bar Visa Canada Corp. and MasterCard International Inc. from entering or enforcing agreements that either push the fees merchants pay to accept credit cards higher or discourage them from dropping from the agreements.

The rules allegedly...
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