visa http://wwno.org en $6B Deal Eases Credit Card Surcharge Restrictions http://wwno.org/post/6b-deal-eases-credit-card-surcharge-restrictions Transcript <p>SCOTT SIMON, HOST: <p>Visa, MasterCard, some of the nation's other largest banks have agreed to a multibillion dollar settlement of a class action suit involving credit card transaction fees. Now, those are what merchants pay when you use plastic instead of cash. Retailers allege that the two largest payment networks conspired with the banks to keep so-called swipe fees high. NPR's Wendy Kaufman reports.<p>WENDY KAUFMAN, BYLINE: Lawyers representing the 7 million retailers in this case call the deal historic - one of the largest settlements ever of a private anti-trust case. Sat, 14 Jul 2012 11:54:00 +0000 Wendy KaufmanWendy Kaufman 15755 at http://wwno.org Visa, MasterCard Come To More Than $6 Billion Settlement With Retailers http://wwno.org/post/visa-mastercard-come-more-6-billion-settlement-retailers Visa and Mastercard have announced that they will pay retailers more than $6 billion to settle several class-action and individual lawsuits retailers have filed since 2005.<p><a href="http://finance.yahoo.com/news/price-of-plastic-going-up--merchants-may-get-surcharge-rights.html">According to a <em>Wall Street Journal</em> story</a> from earlier this month, the settlement stems from complaints that Visa and MasterCard, the largest card-payments networks in the world, prohibited retailers from imposing surcharges to customers using those credit cards.<p>In a stament, the law firm representing Fri, 13 Jul 2012 22:00:00 +0000 editor 15724 at http://wwno.org