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Visa/Walmart and Amex Litigation Updates

Lawsuits over credit card interchange fees and debit card routing practices, which pitted the largest U.S. payment card network against the largest U.S. retailer, have been settled. Visa and Walmart have remained antagonists over interchange since a settlement of class-action litigation was announced in 2012 in U.S. District Court in Brooklyn, New York. Mastercard and 12 U.S. banks were also defendants in that litigation. While millions of U.S. merchants were willing to accept the settlement and gain a prorated share of approximately $6.00 billion in cash and nearly $1.00 billion in interch...

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November 2017
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