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Walmart sues Visa for price-fixing card fees

Mar 28, 2014, 2:17 AM EDT
Shoppers are seen outside a Walmart store in Rosemead, California on January 29, 2014.
AFP/File, Frederic J. Brown

Giant U.S. retailer Walmart has sued credit card firm Visa for $5bn (£3bn), alleging that Visa worked with large banks to fix the price of transaction fees it charged to Walmart. The move comes after Walmart opted out of a $5.7bn settlement with Visa and Mastercard in December. Walmart and other US retailers, such as Target, objected to the terms of that agreement.
Background:
Wal-Mart sues Visa for fixing price of credit card fees [BBC]
Wal-Mart sues Visa for $5 billion over card swipe fees [Reuters]

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