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Visa, MasterCard opt to appeal

NEW YORK - Visa USA, Visa International and MasterCard International have filed an appeal to Judge Barbara S. Jones' ruling against the credit card giants' exclusionary rules. On October 9, Judge Jones sided with the Justice Department in finding Visa's bylaw 210(e) and MasterCard's Competitive Programs Policy anticompetitive. In the...

By Staff Writer | Updated on April 16, 2002

<p>NEW YORK – Visa USA, Visa International and MasterCard International have filed an appeal to Judge Barbara S. Jones’ ruling against the credit card giants’ exclusionary rules. On October 9, Judge Jones sided with the Justice Department in finding Visa’s bylaw 210(e) and MasterCard’s Competitive Programs Policy anticompetitive. In the mixed ruling she did support the associations’ governance structure. In a press statement Visa USA Vice President of Public Affairs Kelly Presta said that “the District Court itself recognized in its decision that consumers benefit from Visa products and it is the consumers who have chosen Visa over American Express.” Visa and MasterCard will file briefs and make oral arguments before the Second Circuit. Both associations and the government have agreed to expedite proceedings. Earlier this month the associations filed a petition with the U.S. Supreme Court for review of class certification in another antitrust suit brought by a potential four million merchants led by Wal-Mart Stores Inc.</p>

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