$7.25B Visa, MasterCard Swipe Fee Deal Gets Approval

Law360, Los Angeles (December 13, 2013, 5:13 PM EST) -- A New York federal judge on Friday approved a proposed $7.25 billion antitrust settlement — believed to be the largest antitrust settlement ever — over Visa Inc. and MasterCard Inc.'s alleged conspiracy to fix prices for credit card swipe fees, resolving claims brought by a putative class of about 12 million merchants.

In September, a coalition of some of the nation’s largest retailers gathered in a Brooklyn courtroom to protest the settlement, saying the deal fails to address the credit card companies’ dominant hold on the...
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