A federal judge has rejected a planned $30 billion settlement between Visa, Mastercard, and retailers aimed at capping credit-card swipe fees. The multibillion-dollar settlement, which was intended to resolve antitrust claims, was deemed insufficient by US District Judge Margo Brodie in Brooklyn this week. Judge Brodie stated that Visa and Mastercard could likely handle a settlement much larger than $30 billion, indicating that the payment networks appear capable of managing a substantially costlier deal. This decision underscores the high standards courts use to ensure fair compensation for plaintiffs in antitrust cases.
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
Visa, Mastercard can likely handle swipe-fee settlement bigger than $30 billion: judge https://t.co/jBvJEeCQ5w
A federal judge formally rejected a $30 billion settlement between Visa, Mastercard, and retailers to cap credit-card swipe fees. https://t.co/AZyMdYic0P
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
A planned $30 billion settlement is being challenged by a judge. https://t.co/VC6m01XBe9
Judge rejects multibillion Visa, Mastercard settlement in swipe fee case https://t.co/yIDuuPDY3X