Attorney General Eric Holder announced he will hold a news
conference today in Washington at 2 p.m. to announce
developments in what the Justice Department described as an
American Express spokesman Michael O’Neill said his company
would fight the charges. “We do not intend to settle,” he said.
Earlier, people familiar with the matter said the Justice
Department was weighing a lawsuit with the expectation
that Purchase, New York-based MasterCard and Visa would settle
while AmEx fights it.
Visa spokesman Will Valentine and MasterCard’s Jim Issokson
had no immediate comment.
The U.S. probe focused on rules that bar merchants from
charging extra to customers who use credit cards and steering
them to competing cards, and require retailers to accept every
type of card banks issue.