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Visa/MasterCard – Antitrust Violations ($2.75 billion)

Posted  June 13, 2008

Constantine Cannon represented Discover Financial Services in this antitrust action alleging Visa and MasterCard violated the antitrust laws through their rules prohibiting U.S. banks from issuing Discover credit and debit cards.  In October 2008, Visa and Mastercard agreed to pay $2.75 billion to settle the matter.  This blockbuster settlement remains one of the top five antitrust settlements in U.S. history.   Read More:  Reuters, Chicago Tribune, Discover.