Thursday, February 02, 2006

Justice Department Wants in on Debit Card Settlement (NRF / WSJ)

The federal government is asking for a piece of the $3 billion settlement agreed to by Visa USA and MasterCard International over debit card fees. The Justice Department submitted a claim valued at approximately $100 million, joining thousands of other retailers seeking damages.

Reuter's reports that retailers are questioning the Judge as to whether the U.S. Government is entitled to any part of this prior settlement.

[source: Wall Street Journal, subscription required]