Market Currents

Visa (V), MasterCard (MA) and 13 large banks, including BofA (BAC), Citigroup (C) and JPMorgan...

Thursday, January 12, 2012, 12:43 PM ET
Visa (V), MasterCard (MA) and 13 large banks, including BofA (BAC), Citigroup (C) and JPMorgan (JPM), face billions of dollars of liabilities in a lawsuit from 5M retailers that accuse the defendants of illegally colluding to overcharge for credit card transactions.

This Market Current was sent to 9,496 people who get email alerts on V.

Get email alerts on V »

Share this Market Current

Short URL:

Track new comments on this story

This news story has 6 comments:

bbro Comments (7839)

Ah Lawsuits...truly additive to the productivity of this country....

12 Jan 2012, 12:44 PM Reply Like

phxcrane Comments (320)

I'm starting to believe its another way this administration is redistributing income.

12 Jan 2012, 12:54 PM Reply Like

SanDiegoNonSurfer Comments (2030)

Actually it appears this lawsuit, even though it's antitrust, is being brought by retailers, not by the gov't. The plaintiffs are a group of five million retailers -- business owners in other words.

12 Jan 2012, 01:13 PM Reply Like

SanDiegoNonSurfer Comments (2030)

From the article:

"damages could conservatively be estimated at $96 billion. If Bank of America had to pay roughly 10 percent of that, as per its 10-K, the bank would have to cough up $9.6 billion."

Glad I held off on buying shares of JPM.

12 Jan 2012, 01:19 PM Reply Like

Rummeljordan Comments (457)

Illegally colluding, good luck proving that one.

12 Jan 2012, 05:36 PM Reply Like

matt7120 Comments (24)

What was the better move ahead of JPM reporting tomorrow morning?

Buying the late Jan BAC calls or buying the puts.

12 Jan 2012, 05:38 PM Reply Like

LATEST|

TODAY SO FAR|

YESTERDAY

Other date

DJIA (DIA) S&P 500 (SPY)