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Visa Inc. (V) and MasterCard Inc. (MA) are firing back at retail trade groups trying to derail a pending $7.25 billion settlement over so-called merchant swipe fees.The world's largest payment networks asked a federal judge Friday to rule that their practices for setting fees paid by merchants that accept credit and debit cards aren't anticompetitive, which could limit the type of lawsuits retailers could bring against the companies in the future.Such a ruling is "necessary to prevent the continuation of endless, wasteful litigation" between merchant trade groups and Visa and MasterCard, the companies said in a complaint seeking declaratory judgment filed in U.S. District Court in Brooklyn.Several large banks, including Bank of America Corp. (BAC), J.P. Morgan Chase & Co. (JPM) and Citigroup Inc. (C), also were named as plaintiffs in the new complaint. The complaint was filed against the National Association of Convenience Stores, National Association of Truck Store Operators, National...
A group of U.S. retailers, including Macy's Inc. and Target Corp., sued Visa Inc. and MasterCard Inc. on Thursday, breaking off from a proposed $7.2 billion settleme...
A group of U.S. retailers, including Macy's Inc. and Target Corp. , sued Visa Inc. and MasterCard Inc. on Thursday, breaking off from a proposed $7.2 billion settlem...
TV's Andy Levy recaps an exciting 30 minutes
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A group of 19 large retailers, including Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX), are opting out of a pending class-acti...
A group of 19 large retailers including Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX) are opting out of a pending class-action...
Visa Inc and MasterCard Inc, opening another front in an eight-year battle over credit card fees paid by retailers, on Friday asked a federal judge to declare that t...
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FBN's Jo Ling Kent breaks down afternoon market news.
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Some of the country's biggest retailers sued Visa Inc. (V) and MasterCard Inc. (MA) Thursday, arguing the world's largest payment networks have imposed anticompetiti...