Banking Law News

Visa, Mastercard Face Next Fight After $6.2 Billion Settlement

Sept. 18, 2018, 1:53 PM

A record $6.2 billion settlement won’t be enough to end Visa and Mastercard’s long-running feud with the U.S.’s biggest retailers.

In the largest-ever class-action settlement of a U.S. antitrust case, Visa Inc. and Mastercard Inc. agreed to pay between $5.54 billion and $6.24 billion to a class of more than 12 million merchants who accept the payment networks’ cards, according to a regulatory filing Sept. 18. The total is in line with sums the companies previously set aside to cover the costs of the litigation.

But retailers are gearing up for the next round in their fight with the world’s...

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