litigation
confidence high
sentiment neutral
materiality 0.80
Visa proposes settlement in interchange antitrust suit; 10 bps rate cut for 5 years
VISA INC.
- Settlement with U.S. merchants resolves claims in long-running multi-district litigation over interchange fees.
- Merchants gain new surcharging options and ability to accept only certain credit card categories.
- Combined average effective credit interchange rate reduced by 10 basis points for five years.
- Posted U.S. credit interchange rates capped for five years; standard consumer rates capped at 125 bps.
- Settlement subject to court approval; Visa and Mastercard deny wrongdoing.