Two Card Issuers in Settlement

WASHINGTON The Department of Justice said last week that Visa and MasterCard have agreed to a proposed settlement of a civil antitrust action against them that would allow merchants to begin steering customers toward lower-cost methods of payment, marking a major victory for retail groups. American Express, however, the third card issuer named in the antitrust suit, did not agree to the settlement,

WASHINGTON — The Department of Justice said last week that Visa and MasterCard have agreed to a proposed settlement of a civil antitrust action against them that would allow merchants to begin steering customers toward lower-cost methods of payment, marking a major victory for retail groups.

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