Major US retailers blast Mastercard, Visa card fees settlement [Reuters]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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investor.mastercard.com/investor-relations/default.aspx
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Source: Reuters
The companies opposed the in a series of filings on Friday in Brooklyn, New York, federal court, where Visa and Mastercard have battled claims since 2005 that they artificially inflated some fees on merchants in transactions involving consumers' credit or debit cards. The settlement with merchants, announced in March, would cap rates for card fees for five years and give sellers more authority to offer discounts based on the use of certain cards. Under current rules, merchants cannot “steer” customers to use cards with lower fees. Visa and Mastercard denied any wrongdoing in agreeing to the settlement, which lawyers for the plaintiffs estimated will save merchants nearly $30 billion. The retailers' objections tee up what is expected to be a major showdown over the fairness of the settlement, which requires court approval. The objectors complained in their filings that Visa and Mastercard would be allowed to resume anticompetitive practices after a five-year pause. Some retail
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MA
Earnings
- 5/1/24 - Beat
MA
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/14/24 - Form 4
- MA's page on the SEC website