March 22, 2006
* The U.S. asked for as much as $100 million from a $3-billion debit card antitrust settlement between U.S. retailers and Visa International Inc. and MasterCard International Inc. * London Fog Group, the Seattle maker of raincoats, filed for Chapter 11 Bankruptcy Court protection for the second time in seven years after failing to obtain financing to fund its operations.
September 26, 2007 |
The Justice Department is investigating interchange fees that MasterCard Inc., Visa International Inc. and their member banks charge retailers to process transactions, the department's chief antitrust enforcer told Congress. Thomas O.
March 10, 1998 |
Visa International Inc. said the dollar amount of transactions on its cards rose 22% in the 12 months through September, as more people started using the cards and more businesses began accepting them. Visa, a payment system owned by a consortium of banks, saw its biggest gains in Latin America, where its transaction volume more than doubled to $68 billion in the 12-month period, a spokesman said.
April 16, 1997 |
Advanta Corp. will probably stop marketing a credit card that gives customers rewards in an American Express Co. program if it can settle pending lawsuits involving Visa International Inc. and MasterCard International Inc., people involved in the situation said. The companies are discussing a settlement, and one could be reached soon. A spokesman for Visa declined to comment.
July 8, 2003 |
MasterCard International Inc. and Visa International Inc. lost a bid to dismiss a lawsuit accusing them of conspiring to impose hidden fees of as much as $4 billion on cardholders who make purchases overseas. U.S. District Judge William Pauley in New York last week refused to dismiss several antitrust claims in the case. In April, a California judge said the companies must provide refunds for the fees on overseas purchases, a ruling that could cost them $800 million. A lawyer for Purchase, N.Y.
September 12, 2003 |
Visa International Inc. and MasterCard International Inc. can place notices in newspapers and monthly credit card bills telling customers how to claim $800 million in refunds, a California judge said. Judge Ronald Sabraw's tentative ruling in Oakland was a partial victory for Visa and MasterCard, the two largest credit card companies, in a case over refunds for foreign exchange fees collected since 1996.