Defendants Visa, Mastercard, and 12 U.S. banks propose to pay $6.26 billion to settle class-action litigation U.S. merchants filed in U.S. District Court in Brooklyn 13 years ago. Merchants sought damages for interchange fees they paid to accept credit and debit card payments. This case includes two classes of plaintiffs pursuing two different sets of relief in the same litigation—the damages class and the injunctive relief class. Negotiations continue over potential injunctive relief for interchange fees. In that part of the case, merchants hope the court will find Visa, Mastercard, et a...