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$7.25 Billion Dollar

July 14, 2012

$7.25 Billion Dollar Settlement In Visa, Mastercard and Related Bank Credit Fee Fixing Scheme * Not really new news, but major creditor cards and the banks that issue them have been bilking credit card fees from retailers, in this case. The settlement is the largest in U.S. History. Go figure. We’re facing the revelation of the largest series of bank fraud schemes that have been going on since and prior to the economic collapse of the U.S. and world. Most of which should require criminal prosecution. The settlement, yet to be approved, is quite a ding to the associated entities pocketbooks. NEW YORK (Reuters) – Visa Inc, MasterCard Inc and banks that issue their credit cards have agreed to a $7.25 billion settlement with U.S. retailers in a lawsuit over the fixing of credit and debit card fees in what could be the largest antitrust settlement in U.S. history. The settlement, if approved by a judge, would resolve dozens of lawsuits filed by retailers in 2005. The ca


From → Hellotxt

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