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September 26, 2016Blog Posts

AmEx can bar merchants from steering card customers elsewhere

Reuters:

A federal appeals court on Monday cleared the way for American Express Co (AXP.N) to block merchants that accept its cards from steering customers toward lower-cost cards from other issuers. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge in Brooklyn erred in February 2015 in finding that American Express’ “anti-steering” rules violated federal antitrust law. Underlying the case were the fees that merchants pay to process transactions, which the U.S. government estimated at more than $50 billion a year, and which can be passed along to cardholders in the form of higher prices.

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