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Wells Fargo Shut Out Of Visa, MasterCard Antitrust Deal

Law360, New York (November 20, 2009) -- A federal judge has declined to allow Wells Fargo Retail Finance — as a secured creditor to certain bankrupt class members — to participate in a multibillion-dollar retailer antitrust settlement with Visa USA Inc. and MasterCard International Inc., saying that the lender was too late in filing its claim.

Judge John Gleeson issued a ruling Thursday in the U.S. District Court for the Eastern District of New York finding that Wells Fargo failed to establish "excusable neglect" for failing...

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