Visa, MasterCard fight off new UK mass actions over fees for now

LONDON - Global payments processors Visa and Mastercard have fought off a new set of lawsuits over fees charged to retailers, with a London tribunal ruling on Thursday that the proposed collective cases cannot proceed for now.

Visa and Mastercard are each being sued by hundreds of claimants at London's Competition Appeal Tribunal, which is currently managing the various cases together. At a hearing in April, CICC asked the tribunal to certify its cases under the United Kingdom's collective proceedings regime, which is roughly equivalent to the class action regime in the United States.

Visa and Mastercard's lawyers said at April's hearing that the need for CICC's cases is undermined by the fact that thousands of merchants have already sued them, with more than 2,300 UK claimants currently suing Visa.

پاکستان تازہ ترین خبریں, پاکستان عنوانات

Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔

Smoke from Canadian wildfires sets off health alerts in New York, OttawaAn unusually early and intense start to wildfire season has set Canada on track for its worst year
ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »

China to establish spy facility in Cuba off southeastern USChina to establish spy facility in Cuba off southeastern US
ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »

Watch: Chair fight erupts between players in National GamesUsers leave hilarious comments as they call out 'lack of sportsmanship'
ذریعہ: SAMAATV - 🏆 22. / 51 مزید پڑھ »

Jahangir Tareen announces new political party, namely 'Istehkam-e-Pakistan Party'Jahangir Tareen on Thursday announced a new political party, namely 'Istehkam-e-Pakistan Party (IPP)'.
ذریعہ: 92newschannel - 🏆 21. / 51 مزید پڑھ »

Beijing denies operating secret police stations in UKChina vehemently denied on Wednesday the existence of secret police stations in the United Kingdom, following an order by London to close them down.
ذریعہ: 92newschannel - 🏆 21. / 51 مزید پڑھ »

New Jersey utilities float solar panels on reservoir, powering water treatment plantNew Jersey utilities float solar panels on reservoir, powering water treatment plant
ذریعہ: DunyaNews - 🏆 1. / 83 مزید پڑھ »