Mealey's Antitrust/Unfair Competition - Opt-Out Complaints Against Visa, MasterCard, Banks Will Continue

Mealey's Antitrust/Unfair Competition - Opt-Out Complaints Against Visa, MasterCard, Banks Will Continue

NEW YORK - A federal judge in New York on July 18 refused to dismiss suits by merchants that opted out of the $7.25 billion class action settlement between approximately 12 million merchants and Visa, MasterCard and a large number of banks, which allegedly fixed the price of interchange fees paid by merchants when customers use Visa and MasterCard credit cards (In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation $(All Opt-Out Cases$), No. 14-md-1720, E.D. N.Y.).

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