Investigations & Cases
SETTLED CASE
Payment Card
Interchange Fee
and Merchant
Discount
Antitrust
Litigation
A Price Fixing Arrangement Artificially Inflated Fees
CASE OVERVIEW
Parkway Corp., et al. v. Visa, U.S.A., In., et al., No. 05-CV-6349 (S.D.N.Y.) KSG has filed an antitrust class action complaint on behalf of merchants that accept for payment the major credit card networks, Visa and MasterCard. The complaint alleges antitrust violations stemming from the networks’ application of an anticompetitive “interchange fee.” Plaintiffs allege that the fee has been set at artificially inflated levels through a price fixing arrangement among Visa, MasterCard and the thousands of banks that control them. This case, Parkway Co. et al. v. Visa U.S.A. Inc., has recently been transferred to the MDL-1720, In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, in the Eastern District of New York.
RELATED LINK
Official Court-Authorized Settlement WebsiteCASE DETAILS
- CASE STATUS Settled
- DATE FILED July 12, 2005
- CASE NUMBER MDL 1720
- DEFENDANTS Visa, Mastercard
- COURT Southern District of New York
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