Latest Mastercard Ruling Is A Milestone For UK Class Actions
Law360 (May 29, 2019, 12:11 PM EDT) -- A London appeals court's decision in Walter Hugh Merricks v. Mastercard Inc. is the latest development in the saga of multilateral interchange fee litigation in the English courts. While it represents a fillip for consumers in the ultimate David vs. Goliath contest, it is not a slingshot to success just yet.
In 2007, the European Commission decided that multilateral interchange fees charged between banks in relation to Mastercard transactions were a breach of EU competition law. The commission considered that MIFs were passed on from merchants to consumers, resulting in unlawfully increased prices.
Ten years later, Walter Merricks applied for a...
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