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In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation

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Case overview

Case Number:

1:05-md-01720

Court:

New York Eastern

Nature of Suit:

Anti-Trust

Multi Party Litigation:

Class Action, Multi-district Litigation

Judge:

Margo K. Brodie

Firms

Companies

Government Agencies

Sectors & Industries:

  1. September 25, 2012

    Restaurants Latest To Rip $7B Visa, MasterCard Swipe Fee Deal

    The National Restaurant Association on Tuesday criticized a proposed $7.25 billion settlement of allegations that Visa Inc. and MasterCard Inc. charged excessive swipe fees, making it the last of six trade group plaintiffs in antitrust multidistrict litigation to oppose the deal.

  2. September 11, 2012

    Opposition To $7B Visa, MasterCard Swipe Fee Deal Grows

    Two retailer advocacy groups on Tuesday became the latest to oppose a proposed $7.25 billion settlement of multidistrict antitrust allegations that Visa Inc. and MasterCard Inc. charged excessive swipe fees, saying the deal would do nothing to prevent the companies from abusing the system.

  3. August 22, 2012

    Retail Group Opposes $7B Visa, MasterCard Antitrust Deal

    The Retail Industry Leaders Association became the latest merchant group to oppose a $7 billion interchange fee antitrust settlement with Visa Inc. and MasterCard Inc. on Wednesday, as the judge overseeing the case limited the amount of time objectors will have to lodge challenges to the deal.

  4. August 14, 2012

    Opposition To $7B Interchange Fee Deal Riles Class Counsel

    The plaintiffs' counsel that negotiated the $7.25 billion interchange fee settlement with Visa Inc. and MasterCard Inc. are upset with efforts by one of the suit's named plaintiffs and its new attorneys to rally opposition to the deal, letters unsealed Monday show.

  5. August 09, 2012

    Judge Sets October Deadline For $7B Card Swipe Fee Deal

    A putative class of plaintiffs seeking approval for a record-setting $7.25 billion antitrust settlement with Visa Inc., MasterCard Inc. and a slew of banks over the companies' credit card interchange fees has until late October to formally file the deal, according to an order unsealed Thursday.

  6. August 07, 2012

    Durbin Rips $7B Visa, MasterCard Interchange Settlement

    Sen. Richard Durbin, D-Ill., urged retailers Thursday to reject a $7.25 billion proposed settlement with Visa Inc. and MasterCard Inc. in antitrust multidistrict litigation over interchange fees paid by merchants, calling the deal a "stunning giveaway."

  7. August 02, 2012

    Pharmacy Group Opposes $7B Swipe Fee Antitrust Settlement

    The $7.25 billion settlement resolving multidistrict antitrust allegations against Visa Inc. and MasterCard Inc. over their allegedly excessive swipe fees again faced scrutiny on Wednesday as a pharmacists group became the latest to oppose the deal, saying it was not in the best interest of its members.

  8. July 26, 2012

    Grocers Group Latest To Oppose $7B Interchange Fee Deal

    The National Grocers Association on Thursday became the second named plaintiff in multidistrict litigation over interchange fee antitrust claims to oppose a $7.25 billion settlement with Visa Inc. and MasterCard Inc., hiring the same law firm already handling a similar challenge.

  9. July 25, 2012

    Retail Opposition Clouds $7B Interchange Fee Deal's Future

    Backed by antitrust big guns Constantine Cannon LLP, the retail group behind growing opposition to Visa Inc.'s and MasterCard Inc.'s $7 billion settlement in the interchange fee antitrust case may not derail the deal completely but could force the credit card giants back to the negotiating table.

  10. July 24, 2012

    Following Target, Wal-Mart Opposes $7B Swipe Fee Deal

    Wal-Mart Stores Inc. became the latest retailer to criticize a recent $7.25 billion settlement in an antitrust class action against Visa Inc. and MasterCard Inc. over interchange fees paid by merchants, saying Tuesday that the deal fell short of making real change.

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