Merchants say card companies’ liable for more than $10 billion in damages

Interchange issue not dead, plaintiffs claim Visa and MasterCard still fixing fees

Who else wants a piece of the credit card companies? Weeks after news broke that automated teller machine (ATM) owners are fed up with Visa and MasterCard allegedly artificially raising the prices consumers pay for ATM use, a federal judge heard oral arguments yesterday that the card companies are still choking interchange networks and conspired to inflate fees retailers pay to process card payments.

Lawyers representing merchants, trade associations, credit card companies and their issuing banks pled their cases to Judge John Gleeson of the U.S. District Court for the Eastern District of New York over whether to proceed to trial with more antitrust allegations against the card issuers’ and banks’ interchange networks.

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