CVS Sues Visa, MasterCard Over Interchange Fee Fixing

Law360, New York (May 28, 2013, 8:30 PM EDT) -- CVS Pharmacy Inc. became the latest retailer Tuesday to launch a new antitrust suit against Visa Inc. and MasterCard Inc. over their allegedly anti-competitive transaction fees, after opting out of a $7.25 billion settlement in related multidistrict litigation.

CVS sued the credit card giants for damages, arguing that Visa and MasterCard each conspired with their own member banks in order to charge excessive, anti-competitive fees for processing credit and debit cards. The credit cards and their member banks then imposed certain restrictions on merchants in order...
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