Visa Sets Aside $1.5 Billion in a Litigation Escrow Account (1)

Visa Inc. said it allocated $1.5 billion to cover litigation costs.

The global payments firm authorized the deposit of the money into a litigation escrow account that’s used for covered litigation, it said in a filing Thursday, without specifying any particular legal matters.

Visa’s ongoing lawsuits include a long-running dispute over credit-card swipe fees. The firm and rival Mastercard Inc. agreed to cap the fees in a $30 billion deal with retailers, but a federal judge in Brooklyn formally rejected the settlement in June.

The firm also faces litigation from the US Justice Department, which alleged in a lawsuit this ...