Visa Agrees To Pay $2B To Settle Antitrust Claims

Law360, New York (November 8, 2007, 12:00 AM EST) -- Visa Inc. has agreed to pay as much as $2.25 billion to American Express Co. in order to bow out of a long-running antitrust lawsuit that alleged MasterCard and Visa improperly limited competition in the credit card network business.

The settlement agreement, announced by both companies Thursday, ended all litigation between American Express and Visa. The agreement also put to rest American Express claims against a group of bank defendants that issue Visa cards, including U.S. Bancorp, Wells Fargo, Washington Mutual, JP Morgan Chase & Co....
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