The Traderszone Network

Published in TZ Latest News 28 September, 2015 by The TZ Newswire Staff

U.S. court hears challenge to $5.7 billion Visa, MasterCard settlement

A U.S. appeals court on Monday weighed whether to uphold the approval of an estimated $5.7 billion antitrust settlement by MasterCard Inc (MA.N) and Visa Inc (V.N) with merchants over credit card fees despite the objection of several major retailers. A lawyer for retailers including Target Corp (TGT.N) and Inc (AMZN.O) urged the 2nd U.S. Circuit Court of Appeals in New York to reject the deal, saying it forces merchants to give up their rights to sue over various policies and practices.