Visa, Mastercard Antitrust MDL Opt-Outs File Separate Suit

Law360 (February 24, 2020, 7:28 PM EST) -- A group of companies — including casino operator Boyd Gaming Corp., restaurant chain TGI Friday's Inc. and the Seminole Tribe of Florida — that opted out of a $6.2 billion settlement with Visa and Mastercard over excessive swipe fees filed their own suit Monday in Florida federal court accusing the credit card companies of anti-competitive behavior.

In the suit filed in the Southern District of Florida, the merchants accused Visa and Mastercard of fixing prices for payment card network services and crafting rules that prevent banks from offering discounts and other benefits to cardholders through direct deals with merchants.

"The competitive...

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