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American Express Case Could Shield Tech Giants From Antitrust Scrutiny

  • Court tosses government suit over AmEx anti-steering policy
  • 5-4 majority says U.S., states didn’t show harm to consumers
Bloomberg business news
American Express Shares Surge on Supreme Court Card Suit Ruling
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A U.S. Supreme Court ruling favoring American Express Co. could shield Silicon Valley companies from accusations that they are thwarting competition just as antitrust enforcers are vowing to heighten scrutiny of the technology sector.

The justices, voting 5-4 along ideological lines, said Monday the U.S. government and 11 states failed to prove that American Express harmed cardholders by prohibiting merchants from steering customers to cards with lower fees.