Long Road to Resolution
The settlement affects more than 12 million merchants across the U.S. and marks the conclusion of one of the nation’s most sprawling multidistrict litigations. It follows an earlier $5 billion damages settlement tied to similar claims over fee-setting practices.
While the companies admit no wrongdoing, Mastercard said the new agreement will resolve all pending U.S. merchant litigation challenging its interchange structure.
Implementation of the rule changes is expected after court approval in late 2026 or early 2027.
Attorneys and Representation
The merchants are represented by Linda P. Nussbaum and Susan R. Schwaiger of Nussbaum Law Group PC; Steve D. Shadowen and Richard M. Brunell of Hilliard & Shadowen LLP; and others.
Visa is represented by attorneys from Holwell Shuster & Goldberg LLP and Arnold & Porter Kaye Scholer LLP, while Mastercard is represented by Paul Weiss Rifkind Wharton & Garrison LLP.
Neither company nor merchant counsel commented Monday on the filing.
