Friday, July 15, 2005

Grocery Chain Operator Kroger Co. And Several Other Large Retailers are Charging Visa USA Inc. With Price-fixing on Credit-card Transaction Fees (AP)

By DAN SEWELL AP Business Writer - Kroger, others sue Visa over price-fixing

Last month, a group of small retailers filed a lawsuit in Connecticut federal court against Visa, MasterCard Inc. and several big banks, including Bank of America Corp. and Citigroup Inc., alleging they set "exorbitant" interchange fees. One of those plaintiffs, Mitch Goldstone, runs 30 Minute Photos Etc. of Irvine, Calif., and also an online photo service. He said the transaction fees are increasingly significant as more business is done online. "I'm very encouraged by it," Goldstone said Friday of the Kroger-announced lawsuit. "I'm delighted there is additional attention to the unlawful price-fixing."

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