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Tag Archives: settlement

Visa and Mastercard Obtain Preliminary Approval of Second Attempt at Interchange Settlement

Posted in Financial Services Litigation and Enforcement, Regulatory and Compliance
On January 24, 2019, Judge Margo K. Brodie of the U.S. District Court for the Eastern District of New York granted preliminary approval of Visa and Mastercard’s second attempt to settle the 13-year old antitrust litigation brought by approximately 12 million merchants, alleging that Visa, Mastercard, and several issuing and acquiring banks cons… Read the rest

The Chicago Federal Reserve Examines Potential of “Immediate Funds Transfer”

Posted in Regulatory and Compliance
The Chicago Federal Reserve makes the case in its November Fed Letter for a national “immediate funds transfer” (“IFT”) system governed by the public sector. The Letter, which summarizes discussions held at a Symposium on IFT sponsored by the Chicago Fed in September 2011, argues that the United States should follow the lead of… Read the rest