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Mealey's Franchise - Credit Card Antitrust Settlement Of More Than $6.3B Granted Final Approval

NEW YORK - In memorandums and orders filed Dec. 16, a federal judge in New York signed off on a final settlement approval valued at more than $6.3 billion, attorney fees totaling 9.31 percent of the settlement and service awards in a class complaint brought on behalf of more than 12 million merchants, including franchisees, nationwide who accept or accepted Visa and Mastercard-branded cards for payments who alleged that the Visa, Mastercard and the issuing banks harmed competition and charged supracompetative fees (In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, No. 05-MD-1720, E.D. N.Y., 2019 U.S. Dist. LEXIS 216796).
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