A federal judge has rejected a $30 billion antitrust settlement between Visa, Mastercard, and retailers over controversial swipe fees. The settlement, struck in March, aimed to cap the fees charged to merchants for credit and debit card transactions. US District Judge Margo Brodie stated that she was not likely to grant final approval to the settlement, leading to the denial of preliminary approval requested by a group of merchants. The decision jeopardizes an agreement intended to end two decades of litigation related to swipe fees. Senator Dick Durbin expressed his approval of the rejection, hoping for a new settlement that would better benefit merchants and small businesses.
The federal judge who rejected Visa and Mastercard’s $30 billion settlement with retailers this week said the payment networks appear capable of stomaching a “substantially” costlier deal https://t.co/ETCT9owP9B
Visa, Mastercard can likely handle settlement much bigger than $30 billion, judge says https://t.co/ljf4csDFdq https://t.co/ke6A8WZ6gH
A $30 billion settlement between Visa, Mastercard and retailers to cap credit-card swipe fees is the latest antitrust deal to be shut down by a judge, underscoring the high standards courts use to ensure fair compensation for plaintiffs. https://t.co/ZSmTdw4Ti9
Judge rejects multibillion Visa, Mastercard settlement in swipe fee case https://t.co/ZknWkekmL3
Judge puts $30 billion Visa, Mastercard settlement on hold, in signal of likely rejection https://t.co/Ex0poY5leB
A federal judge said she's not likely to approve the $30 billion settlement between the payment processing giants Visa and Mastercard and the merchants who say they've overpaid on swipe fees. https://t.co/xU6LPUKjG9
Durbin and Marshall cheer after a judge rejected the $30 billion settlement on swipe fees that two big payment companies struck with merchants in March. @LauraEWeiss16 with the latest on the credit card wars: https://t.co/ijDOWOaklv
Visa, Mastercard $30 billion swipe fee settlement rejected by US judge https://t.co/uuPr5CjNIn
🇺🇸 Judge rejects $30 billion Visa, Mastercard swipe-fee settlement https://t.co/jf3bRfysaT
A federal judge Tuesday rejected a $30 billion antitrust settlement between Visa, Mastercard and a select group of retailers https://t.co/nwIWeM1qHT
Judge rejects $30B Visa, Mastercard 'swipe fee' settlement https://t.co/wnzUne9aZ8
A federal judge formally rejected a $30 billion settlement between Visa, Mastercard, and retailers to cap credit-card swipe fees. https://t.co/1T5EiPEahB
A federal judge rejected a $30 billion settlement that would have capped the fees Visa and Mastercard charge to merchants for credit and debit card purchases, jeopardizing an agreement intended to end two decades of litigation related to swipe fees. https://t.co/OP9VgN5uhY
I'm pleased Judge Brodie rejected this settlement, which only temporarily provided concessions negotiated by a few lawyers behind closed doors. And I'm hopeful that Visa and Mastercard will now negotiate a settlement that truly benefits our merchants and small businesses. https://t.co/5tu9MQMLR3
U.S. judge rejects Visa and Mastercard’s $30-billion swipe fee settlement https://t.co/5IpIF6GDeo
Judge rejects rejects Visa, Mastercard $30 billion swipe fee settlement | Chain Store Age #retail #ecommerce #shopping #consumers https://t.co/OxplZNe9bh
US District Judge Margo Brodie rejected Visa, Mastercard's $30 billion swipe fee settlement. Brodie said she was not likely to grant final approval to the settlement and therefore denied the request by a group of merchants for preliminary approval https://t.co/mTbCu1q1xG https://t.co/t0952M48mj
Judge rejects $30B Visa, Mastercard "swipe fee" settlement https://t.co/mXqNVcofxv
A federal judge denied a request from Visa and Mastercard to green-light a settlement that some merchants felt did not go far enough to provide them relief from credit card fees. https://t.co/iXnDlClchM
A federal judge has rejected a $30 billion settlement between credit card companies and retailers over swipe fees https://t.co/8daqEA88Fi
Judge rejects Visa, Mastercard $30B settlement over controversial swipe fees https://t.co/FlJzdhgDaX https://t.co/uahTJ55WYb
US judge rejects Visa, Mastercard $30 billion swipe fee settlement https://t.co/jqz7IqgX63