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Visa (V) and MasterCard (MA) have sued trade groups and retailers that have rejected a $7.25B...

Visa (V) and MasterCard (MA) have sued trade groups and retailers that have rejected a $7.25B agreement over credit-card swipe charges, with the firms looking to prevent the defendants from seeking antitrust damages for the fees. The lawsuit on Friday came a day after 17 retailers, including Target (TGT) and Macy's (M), sued Visa and Mastercard over the charges.
Comments (4)
  • chopchop0
    , contributor
    Comments (3871) | Send Message
     
    Glad to see these guys going on the offensive. This settlement is one of the largest (if not THE largest) antitrust settlement in history.

     

    These retailers negotiated this in good faith now want to turn their back on it to extract more concessions.
    26 May 2013, 07:29 AM Reply Like
  • bgold1955
    , contributor
    Comments (2239) | Send Message
     
    That's what happens when you play the game V & MA did for > 8 years by overcharging debit card swipes to retailers. They had plenty of time to react to massive complaints of unfair trade practices. Greed does cost at times.
    26 May 2013, 10:45 AM Reply Like
  • ChuckXX
    , contributor
    Comments (1241) | Send Message
     
    I fully agree with "chopchop0" and fully disagree with "bgold1955".
    26 May 2013, 11:27 AM Reply Like
  • Canuk100
    , contributor
    Comments (47) | Send Message
     
    The lawyers who are pursuing this obviously, or willingly, are misinformed as to where those high fees are generated. V and MC get paid for processing all those fees beyond processing are going to the banks who hold the debt or points companies. The problem is that there are so many of those that suing would be too costly. V and MC would rather cut the fees and get rid of cash than justify the costs.
    27 May 2013, 12:09 PM Reply Like
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