Visa Faces Another Antitrust Suit Over Interchange Fees
Law360, London (September 1, 2020, 4:19 PM BST) -- Private club operator Soho House and others have sued Visa claiming they suffered losses, in the wake of a U.K. Supreme Court judgment that the transaction fees charged to merchants by the credit card giant were set at unlawful levels that restricted competition.
The High Court claim filed by Soho House UK Ltd., its home furnishings company and other merchants against Visa Inc. and several subsidiaries seeks financial damages for alleged violations of European Union and British antitrust law.
The lawsuit alleges that Visa set its system up so that the non-negotiable fees that Soho House and the other merchants were...
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