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Visa, MasterCard Accused Again Of Swipe Fee Conspiracy

Law360, New York (May 13, 2015, 7:25 PM EDT) -- A consortium of retailers filed a complaint Tuesday accusing Visa Inc. and MasterCard Inc. of conspiring to fix interchange fees imposed on merchants for the privilege of accepting their credit and debit cards.

Because nearly all card issuers in the U.S. are members of Visa and MasterCard and because those card issuers have agreed to rules that preclude them from independently competing for merchant acceptance, the two companies are violating the Sherman Act by restraining competition, according to the filing in Texas federal court.

The retailers...
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