Credit Card Settlement
A settlement has been reached in the credit card swipe fee lawsuits. The proposed settlements will resolve a number of claims against Visa, MasterCard, and many of their member banks. The settlement includes $6.05 billion in cash payments to merchants who accept Visa or MasterCard branded credit cards, as well as injunctive relief that is intended to benefit consumers and merchants.
Following the Great Recession of 2008-2009, the credit card industry received its fair share of bad press. Consumers were outraged by sky-high interest rates and exorbitant fees, while merchants struggled to accept credit cards without losing money on every purchase. Now, more than five years later, the situation has improved for both parties. Cardholders can’t get away with paying only their minimum balance anymore; they have to pay more than that every time or else be charged a late fee. Merchants
Cred Card Sattlements Companies
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