Visa, MasterCard join forces in Wal-Mart suit

Philip Klein reports on the class action antitrust lawsuit brought by Wal-Mart and other retailers.

A New York judge on Friday will hear summary judgment arguments in a class-action antitrust suit brought by Wal-Mart Stores Inc. and 4 million other retailers.

The suit argues that the credit card companies leveraged their market power to promote their own systems in the growing debit card market, charging higher fees that were passed on to consumers.

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