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Violation Tracker Individual Record

Company: Mastercard International Inc.
Current Parent CompanyMasterCard
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Penalty: $2,100,000,000
Year: 2019
Date: December 16, 2019
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Visa and Mastercard agreed to pay a total of about $6.2 billion to settle litigation alleging they colluded to raise the swipe fees paid by merchants. Visa's share was about $4.1 billion and MasterCard's $2.1 billion. The settlement received final court approval in 2019 but is the subject of an appeal.
Level of Government: federal
Action Type: private litigation
Court: Eastern District of New York
Civil or Criminal Case: civil
Case ID: 1:05md1720
Case Name: In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.