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US: 2nd Circuit declines to revive antitrust lawsuit over interchange fees

By  |  October 18, 2016

A federal appeals court has declined to revive a private antitrust lawsuit accusing four major banks of fixing fees charged to process credit card transactions, ruling cardholders had no right to sue because they did not show they were injured.

A three-judge panel of the 2nd US Circuit Court of Appeals in a decision on Monday affirmed a lower court’s ruling in 2014 that the fees at issue were not paid directly by cardholders but rather by merchants.

Full content: Reuters

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