First Data Lambastes $7B Interchange Fee Antitrust Deal

Law360, New York (May 24, 2013, 7:53 PM EDT) -- Global payment processing company First Data Corp. moved Friday to opt out of the $7 billion interchange fee class action settlement, saying that it shouldn't be forced to give up its right to bring antitrust claims against Visa Inc. and MasterCard Inc.

First Data, which offers payment processing services and owns the Star ATM network, requested permission to intervene in the case in order to opt out of the part of the settlement that permanently releases the credit card companies from certain antitrust claims. The company...
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