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US: With swipe-fee appeals pending, lawyers get their payday

 |  January 10, 2014

While the National Retail Federation and American Express have already filed their appeals of the mega $5.7 billion interchange fee settlement, reports say a judge officially cleared proposed attorneys fees on Friday.

US District Judge John Gleeson approved $544.8 million in lawyers fees to be paid to the representatives of various merchants. The retailers sued Visa and MasterCard, as well as several banks, for charging interchange, or swipe-fees.

The defendants offered the multibillion dollar settlement that was also approved by Judge Gleeson last month.

Full Content: Wall Street Journal

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