Visa, MasterCard $5.7B swipe fee accord approved by judge

|About: Visa Inc. (V)|By:, SA News Editor

Visa (V +1.6%) and MasterCard (MA +1%) tick higher after a U.S. federal judge approves the $5.7B class-action settlement that ended years of litigation over allegations that credit card swipe fees are improperly fixed.

The settlement has been opposed by merchant trade groups and big-box retailers such as Wal-Mart (WMT -0.7%) and Target (TGT -0.9%), which say it won't prevent the fees from rising in the future and gives too much leeway to the card companies.