The US DoJ and seven US States file an antitrust suit against three credit and charge card transaction networks, challenging rules that allegedly restrict price competition at the point of sale (Visa, Mastercard, American Express)

Visa, MasterCard Settle U.S./State Antitrust Suit, While American Express Vows to Fight* The Department of Justice and seven states have filed a civil antitrust suit against the three largest credit and charge card transaction networks in the United States, challenging rules that allegedly restrict price competition at the point of sale. MasterCard and Visa have agreed to settle the charges; however, American Express announced that it had no intention of settling the case. “We want to put more money in consumers’ pockets, and by eliminating credit card companies’ anticompetitive rules, we will accomplish that,” Attorney General Eric Holder said announcing the action on October 4. “We need to ensure that every consumer has access to more choices and lower prices. And that simply will not

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  • Wolters Kluwer (Riverwoods)

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Jeffrey May, The US DoJ and seven US States file an antitrust suit against three credit and charge card transaction networks, challenging rules that allegedly restrict price competition at the point of sale (Visa, Mastercard, American Express), 4 October 2010, e-Competitions Bulletin October 2010, Art. N° 36104

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