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Visa and Mastercard pass on chance to drop multibillion-dollar settlement

More than 25 percent of card-accepting retailers have dropped out of the settlement, triggering the card companies’ opt-out clause

Despite holding the option to back out, leading credit card companies Mastercard Inc. and Visa Inc. plan to move forward in pursuit of a multibillion-dollar antitrust settlement with leading U.S. merchants.

U.S. retailers accounting for more than 25 percent of the total volume of credit card purchases have decided to drop out of the settlement, triggering a clause that would allow Visa and Mastercard to also opt out. However, the companies decided against exercising the clause.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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