Pre-Approved: Visa, MasterCard $5.7 Billion Swipe Fee Settlement

Once worth nearly $7.25 billion, the settlement was valued at just under $5.7 billion as a result of 8,000 merchants that dropped out of the damages portion over retailers’ allegations that credit-card swipe fees are improperly fixed.

mc900447044

mc900447044

The settlement exempts debit-card interchange fees, now regulated under the 2010 Dodd-Frank Act. (A federal judge ordered the Federal Reserve to revisit the rates back in July.)

Read more: http://www.bloomberg.com/news/2013-12-13/visa-mastercard-swipe-fee-accord-approved-by-u-s-judge.html