• Department of Justice Sues Credit Card Companies -- Objects to Nondiscrimination Restrictions
  • October 18, 2010 | Authors: Peter Guryan; Bernard (Barry) A. Nigro; Richard C. Park
  • Law Firms: Fried, Frank, Harris, Shriver & Jacobson LLP - New York Office ; Fried, Frank, Harris, Shriver & Jacobson LLP - Washington Office
  • The Antitrust Division of the Department of Justice (the “DOJ”) and seven states filed a civil antitrust suit against three major credit card companies -- American Express, MasterCard and Visa -- challenging rules that prevent merchants from providing discounts, rewards, and information about credit card costs to consumers at the point of sale. The complaint alleges that these merchant restraints have suppressed competition among credit card companies by prohibiting merchants from offering discounts or other benefits to customers for the use of a particular credit card.