Judge refuses to dismiss collusion claims against Citigroup and Discover for mandatory arbitration clause
U.S. District Judge William Pauley refused to dismiss plaintiffs’ claims of collusion by Citigroup and Discover over arbitration clauses. The lawsuit alleges that credit card holders were forced to agree to mandatory arbitration clauses, and if consumers refused, Citigroup and Discover did not issue them cards. Judge Pauley noted the defendants’ adoption of an arbitration clause that was similar to competitors’, as well as their attendance at meetings to discuss arbitration between 1999 and 2003.
Other card issuer defendants, including Bank of America, Capital One, and JP Morgan Chase, have since settled.
Source: Reuters
Related content: Anticompetitive Regulation in the Payment Card Industry (Ronald Mann, Columbia Law School)
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI