State AGs Object To $7B Visa, MasterCard Swipe Fee Deal

Law360, Los Angeles (May 29, 2013, 3:35 PM EDT) -- Major trade organizations, some of the nation's largest retailers and nine state attorneys general filed objections Tuesday to a $7.25 billion settlement agreement with Visa Inc. and MasterCard Inc. in a multidistrict litigation pending in New York federal court over allegedly anti-competitive credit and debit card transaction fees.

Filed on the deadline to opt out of the proposed deal, the objectors, including the attorneys general of California, Ohio and Arizona, argued that the deal, if approved by U.S. District Judge John Gleeson of the Eastern District...
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