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Visa and Mastercard Will Pay $6 Billion to End a Massive Price-Fixing Lawsuit

September 18, 2018

Via: Fortune

Visa and Mastercard agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants over card fees, the largest-ever class action settlement of an antitrust case.

The two card companies will pay between $5.54 billion and $6.24 billion to settle the claims, according to a filing Tuesday. Visa and Mastercard had previously set aside $5.3 billion with the court to settle the claims. Earlier this year, as the two sides drew closer to an agreement, they put aside an additional $900 million to help cover the settlement amount.

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