DOJ Downplays Retailers' Concerns With AmEx Steering Fixes
Law360, New York (April 20, 2015, 2:54 PM EDT) -- Dozens of retailers suggested a New York federal judge tweak the U.S. Department of Justice's proposed fix to American Express Co.'s anti-steering merchant rules, but the government responded Friday saying such revisions were not necessary since its plan would require AmEx to abide by federal antitrust laws.
More than 70 trade associations and merchants, including retail giants such as Best Buy, Wal-Mart and 7-Eleven, weighed in this month as AmEx and the DOJ argue over how to make the rules, which block merchants from encouraging consumers to use other credit card brands, comply with federal antitrust law. While the retailers made clear they prefer...
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