Visa, MasterCard $5.6 Billion ‘Swipe Fee’ Deal Stands (Correct)

Visa Inc. and MasterCard Inc. on Wednesday defeated an attempt to derail a $5.6 billion deal resolving antitrust litigation over the size of their payment card “swipe fees.”

The US Court of Appeals for the Second Circuit denied a bid to dismantle the class action settlement—covering roughly 12 million businesses—by gas stations that objected to it. The agreement, which was priced at about $6.2 billion before opt-outs, includes $523 million in legal fees.

The Brooklyn-based federal judge who approved the settlement acted “reasonably in a sprawling case with many interested parties, in which neither the district court nor class counsel ...