Judge Says Mastercard/Visa $30 Billion Settlement Is Unfair

Last week, a federal judge rejected Visa and Mastercard’s $30 billion settlement with merchants.Now, new court filings provide more detail about U.S. District Judge Margo Brodie’s rejection of the deal in the decades-old litigation between the two payments giants and retailers over credit card “swipe fees.”As Bloomberg News reported Friday (June 28), court documents show that Brodie says that the two companies seem to be able to pay for a “substantially” bigger settlement. She also argued that the proposed ...