Visa Settles Monetary Claims - Quick Facts

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(RTTNews.com) - Visa Inc. (V), Mastercard and U.S. financial institution defendants have agreed to settle and resolve class claims in the multi-district interchange litigation. The claims were originally brought by a class of U.S. retailers in 2005. The proposed settlement amount is approximately $6.2 billion. Visa's share represents approximately $4.1 billion, which will be satisfied through funds previously deposited with the court plus the $600 millionVisa deposited into its litigation escrow on June 28, 2018.

The company noted that the current agreement addresses monetary claims, and does not resolve class claims seeking modifications to network rules.

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This article appears in: Stocks , 401k , Banking and Loans , Retirement
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