Judge Margo Brodie Rejects $30B Antitrust Settlement with Visa, Mastercard

A federal judge has rejected a $30 billion antitrust settlement between Visa and Mastercard aimed at reducing credit card swipe fees for merchants. Judge Margo Brodie ruled that the settlement did not provide adequate relief and maintained excessive control for the credit card companies over transaction fees. The Merchants Payments Coalition and other trade groups praised the decision, arguing the deal would have continued unfair pricing practices. The settlement proposed lowering interchange fees by a small percentage for several years, but critics claimed it did not address the underlying issues of fee structures and anti-competitive practices. Visa and Mastercard expressed disappointment and indicated they would explore further options. The decision may force the companies to negotiate a more favorable settlement for merchants or proceed to trial.