Sept. 18 (UPI) -- After fighting it for more than a decade, Visa and Mastercard settled a class-action lawsuit over card-swipe fees, agreeing with banks to pay $900 million.
The lawsuit filed by merchants said Visa and Mastercard established fees that benefited banks, instead of allowing merchants to negotiate with businesses themselves. The latest settlement will be added to the $5.3 billion already paid to merchants in 2012.