File photo showing Mastercard and Visa credit cards in Zelienople, Pa., on Feb. 20, 2019. AP Photo/Keith Srakocic, File
Visa and Mastercard have proposed a sweeping settlement that could change how Americans use their credit cards—and may leave some premium rewards cards unwelcome at store checkout counters.
The agreement, announced on Nov. 10, aims to resolve a two-decade-long class-action lawsuit brought by retailers who accused the two networks of violating antitrust laws by fixing interchange, or “swipe,” fees.
