Relevant:
- Visa, MasterCard $5.7 Billion Swipe Fee Accord Approved
- Retailers win $7.25B in settlement over credit card fees
- Visa, Mastercard ask U.S. court to declare card fees are lawful
- Wells Fargo To Pay $142 Million To Customers Hurt By Bogus Accounts
- BofA Settlement Belongs in State Court, BNY Tells Judge
2012-11-12 — bloomberg.com
Visa Inc. (V) and MasterCard Inc. (MA)'s proposed $7.25 billion settlement of a merchant fee price-fixing case won preliminary approval from a federal judge in Brooklyn, New York.
U.S. District Judge John Gleeson made his ruling in court yesterday after considering arguments by retailers opposed to the deal. The judge's decision allows plaintiffs to begin signing up more than 7 million retailers that might be eligible to participate. The settlement will be subject to a final approval at a later date.
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