Judge Rejects Settlement in Merchant Fee Case

Article

Judge Rejects Settlement in Merchant Fee Case

Judge Margo Brodie of the U.S. District Court for the Eastern District of New York has told attorneys for plaintiffs and defendants that she will not grant final approval to a proposed settlement of a class action lawsuit concerning fees merchants paid for Visa and Mastercard transactions. The defendants are Visa, Mastercard and a number of large credit card issuers. Plaintiffs are US merchants. The litigation, which has been moving through federal court since 2005, involves both a financial damages component—payment of approximately $30 billion in compensation to merchants—and injuncti...

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Nilson Report

1266

June 2024

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Top 100 Issuers of US Credit and Debit Cards—History of Spending at Merchants, Years 2017 through 2023, Credit, Debit, Prepaid

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