Mmastodon BusinessFinance first seen 5 h ago, last 54 min ago, peak #3
Visa, Mastercard and Banks Face New Lawsuit over Merchant Fees
Original: Visa, Mastercard, Major Banks Facing New Litigation over 'Anticompetitive' Fees https://www.classaction.org/news/visa-ma
Visa, Mastercard and several major US banks are facing new litigation alleging that credit card transaction fees charged to merchants are anticompetitive. The suit, reported by ClassAction.org, accuses the card networks and their issuing banks of conspiring to keep interchange fees artificially high, with merchants bearing the cost. If it proceeds, the case could add to the mounting legal and regulatory pressure on the payments industry over swipe fees.
Why now: The payments industry is under renewed legal and regulatory scrutiny over interchange fees, and a fresh antitrust suit against the biggest card networks naturally draws attention.
Rank over time, top of the chart is #1. 4 snapshots from 5 h ago to 54 min ago.
Evidence
- Visa, Mastercard, Major Banks Facing New Litigation over 'Anticompetitive' Fees https://www.classaction.org/news/visa-mastercard-major-banks-facing-new-litigation-over-anticompetitive-merchant-credit-card-transaction-fees # HackerNews # Tech # Finance · hackernews@robot.villas · 4
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