June 15, 2016Blog Posts

Home Depot Says Visa & MasterCard Colluded

Courthouse News Service

Fed up with bearing the costs of credit card fraud and fixed interchange fees, Home Depot fired off an enormous federal complaint that accuses Visa and MasterCard of reaping “outsized profits” on a broken system. “For years, Visa and MasterCard have been more concerned with protecting their own inflated profits and their dominant market positions than with the security of the payment cards used by American consumers and the health of the United States economy,” the June 13 lawsuit begins.

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