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Visa, Mastercard close in on settlement over card-swipe fees: WSJ

Published 06/28/2018, 10:38 AM
© Reuters.  Visa, Mastercard close in on settlement over card-swipe fees: WSJ
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  • Visa (V -0.2%) and Mastercard (MA +0.5%), as well as a number of banks including JPMorgan Chase (JPM +0.5%), Citigroup (C +0.3%), and Bank of America (BAC +0.5%), would pay merchants about $6.5B under the settlement, the Wall Street Journal reports, citing people familiar with the matter.
  • The agreement would resolve a long-running antitrust lawsuit with merchants over fees they pay when they accept card payments.
  • The parties told the U.S. District Court for the Eastern District of New York on Tuesday that they had reached a settlement, the WSJ says.
  • Previously: American Express (NYSE:AXP) +2% as Supreme court rules in its favor on antitrust case (June 25)
  • Now read: 2 Banking Stocks To Buy Today


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