00:00, 30 July 2008 Page views 436 views

MasterCard Settles Amex Lawsuit

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MasterCard Worldwide has agreed to pay US$1.8 billion to American Express (AmEx)  in a settlement relating to a 2004 anti-trust lawsuit. Amex had claimed in that suit that MasterCard and Visa had blocked their member banks from issuing Amex-branded cards. In 2004, the U.S. Supreme Court ruled against Visa and MasterCard, forcing the two companies to abandon their restrictions on Amex card-issuing.

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