Oct
14
Posted (db) in General on October-14-2008

from: http://biz.yahoo.com/rb/081014/business_us_creditcards_discover.html

 

NEW YORK (Reuters) – Discover Financial Services Inc (NYSE:DFSNews) and card networks Visa Inc (NYSE:VNews) and MasterCard Inc (NYSE:MANews) have settled an antitrust lawsuit, sending shares of the fourth-biggest U.S. credit card company up over 14 percent.

In 2004, Discover had filed a lawsuit against MasterCard and Visa seeking roughly $6 billion in damages, as it contended the card networks had harmed its business by preventing their member banks from issuing credit cards for Discover’s network.


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