Visa, Mastercard $30 Billion Swipe-Fee Deal Blocked by Judge

A federal judge in Brooklyn formally rejected a $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees after telegraphing earlier this month that such a setback in the two-decade long litigation could be expected.

US District Judge Margo Brodie issued the ruling Tuesday, and ordered the parties to confer and respond to the ruling by June 28.

Brodie said at a hearing earlier this month that nothing she heard had changed her mind that the settlement should be approved. The settlement would have permitted retailers to charge consumers extra in transactions involving Visa ...