Visa, Mastercard $30 Billion Swipe-Fee Settlement Likely To Be Tossed

Group 1 - The judge overseeing the credit card swipe-fee lawsuit is likely to reject the proposed $30 billion settlement, which aimed to reduce fees charged by Visa and Mastercard to merchants [1][2] - The settlement agreement reached in March included a commitment from Visa and Mastercard to lower transaction fees and not raise them until 2030, but critics argued it did not adequately address antitrust concerns [2] - The Merchants Payments Coalition (MPC) welcomed the judge's comments, highlighting the flaws in the settlement that would have made it unfavorable for businesses [2] Group 2 - Following the judge's remarks, shares of Visa and Mastercard experienced a slight decline of less than 1% in intraday trading [1][3] - Mastercard expressed its intention to explore options for a proper resolution, while Visa maintained that the proposed settlement was a suitable outcome from extensive discussions with merchants [3]