A federal judge has formally rejected a $30 billion swipe-fee settlement between Visa, Mastercard, and retailers aimed at capping credit-card swipe fees. US District Judge Margo Brodie in Brooklyn stated that Visa and Mastercard can likely withstand a 'substantially greater' settlement with merchants. The judge described the $30 billion settlement as 'paltry,' indicating that a much larger settlement is feasible for the credit card giants. The rejection occurred last week.
US District Judge Margo Brodie in Brooklyn said Visa and Mastercard can likely withstand a 'substantially greater' settlement with merchants who said they overpaid on swipe fees than the $30 billion accord she rejected last week. Read more: https://t.co/ljf4csD7nS https://t.co/1xsJscXrWx
US judge rejects "paltry" $30 billion swipe fee settlement https://t.co/11FvclBytV
Visa, Mastercard can likely handle swipe-fee settlement bigger than $30 billion: judge https://t.co/jBvJEeCQ5w
A planned $30 billion settlement is being challenged by a judge. https://t.co/7xkloDAZGp
A federal judge formally rejected a $30 billion settlement between Visa, Mastercard, and retailers to cap credit-card swipe fees. https://t.co/AZyMdYic0P
Visa, Mastercard can likely handle settlement much bigger than $30 billion, judge says https://t.co/ljf4csDFdq https://t.co/ke6A8WZ6gH