Visa, Mastercard Could Handle Bigger Swipe-Fee Deal, Judge Says
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The federal judge who rejected Visa Inc. and Mastercard Inc.’s $30 billion settlement with retailers this week said the payment networks appear capable of stomaching a “substantially” costlier deal.
The accord proposed in March, estimated to save retailers that much over five years, would have “disproportionately and inequitably” benefited small, local merchants over larger companies such as Walmart Inc. or Target Corp., US District Judge Margo Brodie in Brooklyn wrote in an 88-page opinion Friday.