AmEx To Spend Up To $79M In Surcharge Suit Settlement

Law360, New York (December 19, 2013, 6:12 PM EST) -- American Express Co. inked a settlement Thursday with merchants challenging its credit card rules in two putative antitrust class actions, opening the door for retailers to begin surcharging credit card transactions, and agreed to pay up to $79 million in costs and fees.

If approved, the settlement will allow merchants to charge customers an extra fee for using a credit or charge card as long as they apply the same surcharge to all credit cards they accept. The deal also calls for AmEx to pay up...
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