WASHINGTON (AP) — The Supreme Court will not restore a $7.25 billion settlement between merchants and Visa Inc. and MasterCard Inc. over credit card transaction fees.
The justices did not comment Monday in leaving place a ruling by the federal appeals court in New York that tossed out the settlement in a lawsuit that began in 2005.
A group of 19 merchants and trade groups claimed in the lawsuit that Visa and MasterCard conspired to fix fees charged to stores for handling credit card payments.
A federal judge approved a settlement in 2013, but some retailers and consumer groups objected.
The 2nd U.S. Circuit Court of Appeals said the proposed settlement was unfair to merchants that wouldn’t have received any money.
- Posted March 29, 2017
- Tweet This | Share on Facebook
Court won't restore merchants' $7.25 billion swipe fees settlement
headlines Oakland County
- Whitmer signs gun violence prevention legislation
- Department of Attorney General conducts statewide warrant sweep, arrests 9
- Adoptive families across Michigan recognized during Adoption Day and Month
- Reproductive Health Act signed into law
- Case study: Documentary highlights history of courts in the Eastern District
headlines National
- NextGen UBE ‘blueprint’ welcome, but more info on new bar exams needed, sources say
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Lawyer accused of hitting rapper Fat Joe’s process server with his car
- Trump administration sues Maryland federal court and its judges over standing order on deportations
- Law firms consider increasing capital contributions by equity partners
- BigLaw firm lays off 5% of business professional staff
