Visa, Mastercard get court win in $38 billion swipe-fee case
Visa and Mastercard shares jumped 1.7% and 2% after a Brooklyn judge gave preliminary approval to their $38 billion swipe-fee settlement with U.S. merchants, a deal expected to save merchants $38 billion by 2031 and cap standard consumer-card rates at 1.25% for eight years, though major retailers and trade groups remain opposed.