News & Analysis as of

Settlement Class Action MasterCard

Davis Wright Tremaine LLP

Proposed Visa/Mastercard Interchange Fee Settlement – A Sea Change or Drop in the Ocean for Merchants?

The series of antitrust class action lawsuits first brought by U.S. merchants against Visa and Mastercard in 2006 continued its winding path toward closure as the parties announced in March 2024 that they had reached a...more

Lathrop GPM

Payment Card Settlement Claim Deadline Extended to August 30, 2024

Lathrop GPM on

A very large class action settlement has an approaching deadline for class members to file claims. The class is very broad, defined as “all persons, businesses, and other entities that have accepted any Visa-Branded Cards...more

Davis Wright Tremaine LLP

Visa and Mastercard Obtain Preliminary Approval of Second Attempt at Interchange Settlement

On January 24, 2019, Judge Margo K. Brodie of the U.S. District Court for the Eastern District of New York granted preliminary approval of Visa and Mastercard’s second attempt to settle the 13-year old antitrust litigation...more

Troutman Pepper

When Classes Collide: Court Rejects $7.25 Billion Visa/MasterCard Settlement, Competition News Volume 2016, Issue 1

Troutman Pepper on

The Second Circuit’s decision highlights that, whenever there are groups of plaintiffs that will obtain different categories of relief as a part of a settlement, both plaintiffs and defense counsel should seriously consider...more

Carlton Fields

Declined: Second Circuit Panel Shreds Visa and MasterCard Antitrust Settlement

Carlton Fields on

A Second Circuit panel rejected the settlement reached between defendants Visa, MasterCard, and various banks, and plaintiffs, approximately 12 million merchants who alleged the principally identical network rules of Visa and...more

King & Spalding

Target Settles Data Breach Class Action Suit With Banks For $39 Million

King & Spalding on

Target has agreed to a $39 million settlement in a class action suit with several U.S. banks stemming from Target’s massive 2013 data breach. That data breach affected customers who shopped at U.S. Target stores between...more

Manatt, Phelps & Phillips, LLP

Financial Services Law - Jan 30, 2014

Swipe Fee Settlement Yields More Litigation - Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more

Eversheds Sutherland (US) LLP

Court Approves $7.25 Billion Settlement of Antitrust Class Action Relating to Visa and MasterCard Interchange Fees

In the face of objections from some of the nation’s largest retailers, a New York federal judge has approved a massive settlement between a putative class of approximately 12 million merchants and Visa, MasterCard, and...more

Manatt, Phelps & Phillips, LLP

Visa and MasterCard Win Approval for $5.7 Billion Settlement Ending Years of Litigation

Today Visa Inc. and MasterCard Inc. won approval for a $5.7 billion settlement that ended years of litigation with United States merchants over allegations that credit card swipe fees are improperly fixed. U.S. District Judge...more

Smith Anderson

Surcharges and Checkout Fees: Navigating the Mine Field

Smith Anderson on

In November 2012, Visa and MasterCard agreed to alter their credit card surcharging rules as part of a settlement related to the class action case In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation....more

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