MasterCard Prevails In Visa Service Fee Case

Law360, New York (June 11, 2007, 12:00 AM EDT) -- A district judge has determined that Visa USA’s special fee that charges debit card issuers for switching over to its smaller competitor MasterCard Inc. is anti-competitive.

Judge Barbara Jones sided with a court-appointed adviser who claimed that Visa’s settlement service fee restrained competition in the U.S. District Court for the Southern District of New York on Thursday.

She mandated Visa to let any of its top 100 debit card issuers end its contract with the card association as long as the issuer separately consented to issue...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.