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JPMorgan Says Credit-Card Swipe-Fee Case Cost Bank $1.2 Billion
Aug. (Bloomberg) -- JPMorgan Chase & Co., the biggest U.S. credit-card lender, will contribute about $1.2 billion to settle a price-fixing case brought by retailers over credit-card swipe fees. JPMorgan agreed to cover about 20 percent of a $6.05 billion deal to settle claims that the bank conspired with MasterCard Inc. and Visa Inc. to rig credit-card processing fees, the New York-based bank said today in a filing.
Read more: http://www.sfgate.com/business/bloomberg/article/JPMorgan-Says-Credit-Card-Swipe-Fee-Case-Cost-3776056.php#ixzz23Wikpmx5
