MasterCard Fine May Spark New Round Of Private Claims
Law360 (January 23, 2019, 9:57 PM EST) -- The European Commission's €570 million ($648 million) fine this week against MasterCard targeted now-defunct rules that prevented retailers from shopping around for cheaper banks in other countries, and experts say it could add to the avalanche of private damages retailers are already seeking following previous commission actions on card fees.
The commission has long been interested in various aspects of so-called interchange fees, which are paid by a merchant's bank to the bank of a cardholder when credit and debit card transactions are made. The MasterCard fine this week came over company rules that required banks to charge interchange fees based...
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