Judge Sets October Deadline For $7B Card Swipe Fee Deal

Law360, New York (August 9, 2012, 5:42 PM EDT) -- A putative class of plaintiffs seeking approval for a record-setting $7.25 billion antitrust settlement with Visa Inc., MasterCard Inc. and a slew of banks over the companies' credit card interchange fees has until late October to formally file the deal, according to an order unsealed Thursday.

U.S. Magistrate Judge James Orenstein's order, which was sealed when filed in late June after the parties originally came to terms on the deal, gives the parties until Oct. 19 to seek preliminary approval for the settlement, which has run...
To view the full article, register now.