Credit card ruling ripples - USA
‘The big boys in the credit card business, along with the federal government, have been engaged in a multi-year court battle. But guess who comes out the big losers in the end? That’s right, consumers and small businesses.
It started in 1998 when the U.S. Department of Justice sued Visa and MasterCard for supposedly anti-competitive behavior. It seems that the government didn’t like that Visa and MasterCard would not allow their member banks to issue other cards, like American Express or Discover, for example.’
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