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US judge approves multibillion-dollar suit against MasterCard, Visa

Published:Monday | December 16, 2013 | 10:30 AM

A US judge has approved a $5.7 billion class action settlement against credit card firms Visa and MasterCard.



This is believed to be the largest ever settlement in an antitrust class action suit.



Visa and MasterCard were accused of fixing the credit card fees charged to merchants each time a credit or debit card was used.



Some retailers objected to the fees claiming the terms were unsatisfactory.



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