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VISA and MasterCard Pay $2.75 Billion in Settlement to Discover

Posted by rmak 1304 days ago (http://www.fairloanrate.com)
Category: Economy | Tags: anti-trust credit card mc visa
This Monday, credit card issuing companies VISA and MASTERCARD announced that they have settled the anti-trust law suit filed by Discover Financial Services. Discover accused both of the companies of entering in to exclusivity contracts with banks. Such contracts prohibited banks and other financial institutions to issue competing cards. Discover filed for $6 billion as compensation but settled for less than half that amount.
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