Court Battle Looms Over Credit Card “Hidden Tax”

Law360 (March 27, 2006, 12:00 AM EST) -- Fed up with what they consider a “hidden tax” for merchants and consumers by credit card companies and their banks, merchants have decided to fight back with a large-scale antitrust class-action lawsuit against the major credit card companies. But past court decisions that have sided with the credit card companies could prove a significant challenge for the merchants as they fight their way through court.

When a consumer pays with a credit card, a payment is processed through the merchant’s bank and the consumer’s credit card...
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