Amazon and others sue card companies over swipe fees

06/26/2013 | Bloomberg

Amazon, 7-Eleven and about 30 other retailers that opted out of a swipe-fee settlement with Visa and MasterCard have filed a lawsuit against the credit card companies in federal court. "Once Visa and MasterCard acquired substantial market power over merchants, they maintained it by forcing merchants to pay even higher interchange fees to continue to fund these price-fixing schemes," according to the retailers' complaint.

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