Merchants To Face Off Over $7B Interchange Fee Deal
By Melissa Lipman
Law360, New York (September 10, 2013, 9:52 PM EDT) -- Proponents and critics of a $7.25 billion antitrust settlement over Visa Inc.'s and MasterCard Inc.'s interchange fees are set to square off in federal court at a fairness hearing Thursday, where the focus is likely to be on a few key questions about class certification and a proposed injunction designed to adjust the companies' merchant policies.
Combining a $6 billion cash payout and injunctive relief estimated to be worth about $1.2 billion, the deal is believed to be the largest antitrust settlement ever. The size of...