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Mastercard and Visa face over $9 billion class action lawsuit in UK

Posted On: Feb. 22, 2023 9:53 AM CST

U.K.-based law firm Harcus Parker Ltd. is planning to launch a class-action lawsuit against Mastercard Inc. and Visa Inc. over multilateral interchange fees, reportedly seeking a minimum of £7.5 billion ($9.05 billion) in damages on behalf of British businesses, Yahoo Finance reported. Harcus will argue that the payments giants charged companies too much for interchange fees.