Credit Card Interchange Fees
Pearson Warshaw attorneys represent several large, national retailers who have opted out of a class action settlement in this multidistrict case arising from anticompetitive conduct in the credit and debit card markets. The case alleges that Visa, MasterCard and their member banks conspired to fix the levels of default interchange fees and enforced other merchant restraints upon merchants who accept Visa and MasterCard payment cards. A number of large merchants, including Wal-Mart, Target and Macy’s, opted out of the settlement, which was approved by Judge John Gleeson of the Eastern District of New York on December 13, 2013. It is believed to be the largest antitrust case in United States history.