VISA/Mastercard Settlement to Merchants
On December 13, 2019 the Court granted final approval to a settlement filed on September 18, 2018 in the amount of $5.54 billion. The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws. On January 3, 2020, an appeal of the final approval order was filed with the court. At this time, it is unknown how long the appeals process will take.
Please refer to the court approved website below for more information and status updates regarding the settlement.