Visa Sued By Target, Macy’s And Others On Fees

Visa Inc (NYSE:V) is in trouble with major US retailers over the way it handles and prices processing fees. The lawsuit is a break from a $7 billion settlement that Visa and Mastercard Inc (NYSE:MA) offered to retailers in an antitrust case against the company. It is clear that many retailers are looking to go their own way on the deal.

The case centers around what are called swipe fees, or processing charges. Millions of retailers accused Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) of pumping up those fees to levels beyond what was fair in a free market. The two credit card giants offered a settlement to...