LexisNexis® Legal Newsroom
$7.5 Billion Credit-Card-Fee Settlement Receives Approval

NEW YORK - (Mealey's) A federal judge in New York on Nov. 9 granted preliminary approval to the $7.25 billion class action settlement between merchants and Visa, MasterCard and a large number of banks that the proposed class alleges fixed the prices of interchange fees paid by merchants when...

Debit Card Fees Rule ‘Clearly Disregarded’ Congress’ Intent, Judge Finds

WASHINGTON, D.C. — (Mealey’s) A federal judge in the District of Columbia on July 31 ordered that a rule governing debit card transaction fees be rewritten, saying that the Board of Governors of the Federal Reserve System has “clearly disregarded Congress’ statutory intent by...