Visa, Mastercard Amped-Up Swipe-Fee Deal Wins Judge’s Nod (1)

Visa Inc. and Mastercard Inc.’s $200 billion settlement with retailers won preliminary approval from a judge in decades-long litigation over so-called swipe fees.

The parties had previously proposed a $30 billion settlement, but that was rejected by a separate judge in 2024.

“The amended settlement provides more extensive relief than the first settlement, notwithstanding the objections to its adequacy,” US District Court Judge Brian Cogan said in a written decision Tuesday.

A group of retailers and the payment firms proposed the most recent settlement in November, which was slated to save the merchants more than $200 billion over ...