Traditions Files Antitrust Suit against Visa and MasterCard

On Wednesday June 22, 2005, Traditions, along with four other retailers, filed a Class Action Antitrust Lawsuit against Visa, MasterCard, and numerous large national and international banks, including Bank of America, JP Morgan Chase, Citigroup, MBNA, and Wachovia, alleging price fixing in the setting of interchange fees charged to merchants for accepting Visa and MasterCard credit card transactions. These articles provide background on the issues at stake and discuss the potential impact of this lawsuit on the banking and retail industries:

The Wall Street Journal
St. Paul Pioneer Press
Friday June 24, 2005
Naples Daily News
Friday July 1, 2005
The New York Times
Thursday October 6, 2005