AmEx Bucks Surcharge Queries In Visa-MasterCard Settlement

Law360, New York (January 25, 2013, 7:40 PM EST) -- As final approval of Visa Inc. and MasterCard Inc.'s $7.5 billion antitrust settlement nears, American Express Co. is resisting attempts to uncover information that could portend the effect of settlement-triggered surcharges on U.S. consumers, according to letters filed Thursday in New York.

U.S. District Judge John Gleeson, who gave the interchange-fee settlement preliminary approval in November, is considering a key component that allows merchants to apply a surcharge on Visa and MasterCard cardholders. Plaintiffs subpoenaed AmEx for information detailing the effects a similar surcharge in Australia...
To view the full article, register now.