Antitrust case against Citigroup and Discover moves forward

Judge refuses to dismiss case against credit card issuers

Yesterday, a federal judge told Citigroup Inc. and Discover Financial Services they aren’t off the hook as defendants in a decade-old nationwide antitrust lawsuit.

In 2002, credit card holders accused a group of credit card issuers, including Citigroup and Discover, of conspiring to force cardholders to agree to anti-competitive, mandatory clauses in their customer agreements that require disputes to be resolved through arbitration rather than litigation. The companies also allegedly refused to give cards to people who wouldn’t agree to the agreements’ terms.

Ashley Post

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