Visa, MasterCard, Issuing Banks Sue Retailers Over Interchange Fees

Visa, MasterCard, Issuing Banks Sue Retailers Over Interchange Fees

NEW YORK - Visa, MasterCard and issuing banks who are defendants in the Payment Card Interchange Fee and Merchant Discount Antitrust Litigation on May 24 filed a declaratory action against the named class action plaintiffs in the multidistrict litigation who have indicated that they will be opting out of the $7.25 billion settlement (In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation [Visa U.S.A. Inc., et al. v. National Association of Convenience Stores, et al.], No. 1:05-md-01720, E.D. N.Y.).

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