Retailers win $6 billion settlement in credit-card fee case

07/15/2012 | Wall Street Journal, The · Bloomberg · CBS News

Visa, MasterCard and some large banks will pay a $6 billion settlement to retailers across the country, temporarily lower credit-card swipe fees and allow merchants to charge more on credit-card transactions, to settle a 7-year-old price-fixing lawsuit. “What we need are changes in the rules that bring about transparency and competition that would be here for years to come," said Mallory Duncan, general counsel to NRF, which was not a party to the lawsuit.

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