Visa (V) and MasterCard (MA) are close to settling a seven-year lawsuit brought by retailers...

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

Visa (V) and MasterCard (MA) are close to settling a seven-year lawsuit brought by retailers over allegations that the credit-card giants fixed swipe fees, Bloomberg reports. While there's no word of the size of the agreement, Visa has set aside $4.28B to cover litigation, while MasterCard took a $495M charge in Q4.