Mealey's Banking & Finance - Wal-Mart Files Suit Against Visa Seeking $5 Billion Over 'Swipe Fees'

Mealey's Banking & Finance - Wal-Mart Files Suit Against Visa Seeking $5 Billion Over 'Swipe Fees'

FAYETTEVILLE, Ark. - Wal-Mart Stores Inc. and other retailers filed a complaint on March 25 in an Arkansas federal court against Visa U.S.A. Inc., alleging that Visa worked with banks to illegally inflate the "swipe fees" retailers pay for Visa transactions and requesting more than $5 billion in damages (Wal-Mart Stores Inc., et al. v. Visa U.S.A. Inc., et al., No. 14-5101, W.D. Ark.).

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