Visa Mastercard swipe fee settlement explained : A long-running legal fight over credit card “swipe fees” has taken a new step forward after a US district judge granted preliminary approval to a $38 billion settlement involving Visa and Mastercard and millions of merchants. The case, which has stretched for more than two decades, centers on claims that the card networks charged excessive processing fees.
A previous $30 billion version of the settlement was rejected two years ago in another court, making this latest ruling another key development rather than a final resolution.
