Mastercard, Visa reach $30 billion settlement over credit card fees

Mastercard, Visa reach $30 billion settlement over credit card fees

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Visa Inc. and Mastercard Inc. bank cards are organized for {a photograph} in Tiskilwa, Illinois, U.S.

Daniel Acker | Bloomberg | Getty Photographs

Visa and Mastercard have reached a settlement to cap bank card charges for retailers, leading to an estimated $30 billion of financial savings over 5 years.

The antitrust settlement introduced on Tuesday is likely one of the largest in U.S. historical past, and upon courtroom approval would resolve claims in litigation that started in 2005.

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