Visa, Mastercard, Major Banks Facing New Litigation over 'Anticompetitive' Fees

A new lawsuit is being brought against Visa, Mastercard, and major banks accusing them of charging 'anticompetitive' fees to merchants for credit card transactions. The lawsuit alleges that the companies have conspired to set fees that are not transparent or competitive. The lawsuit claims that the fees are being passed on to consumers in the form of higher prices. The plaintiffs are seeking class-action status for the lawsuit.