Author: Christine Schiffner - Page 11

Vodafone Hits Visa, MasterCard With UK Swipe Fee Suit

Vodafone and its affiliates allege that the merchant service charges they’re required to pay for each Visa and MasterCard credit and debit card transaction have been “material times higher” than they should be.

Scott+Scott responds to Sherman Joyce’s Law360 guest article, “Gov’t Opioid Suits Hide Attorney’s Personal Interests.”

New York’s banking regulator said Tuesday that Standard Chartered Bank will pay $40 million to resolve claims that it participated in a scheme to rig foreign exchange benchmark rates.

Banks Accused Of Rigging Libor After Post-Scandal Overhaul

Putnam Bank accuses the owner of the New York Stock Exchange of conspiring with some of the world’s largest banks to artificially deflate a key financial benchmark.

Kodak Takes Antitrust Row With Goldman, Others To UK

Eastman Kodak Co. units file a claim in the High Court of Justice of England and Wales against Goldman Sachs, Glencore and others with a lawsuit accusing them of manipulating aluminum prices.

Swipe Fee Ruling Opens Visa, MasterCard To Wave Of Claims

Three senior Court of Appeal judges ruled that Visa Inc. and MasterCard Inc. set the swipe fees, also known as interchange fees — the bank-to-bank charges levied on each credit card purchase — at an unlawful level that restricted competition.

Visa and MasterCard interchange fees restricted competition, English court rules

Visa and MasterCard have lost appeals in their long-running battle against a host of retailers, as an English court found their multilateral interchange fee schemes restrict competition.

US Fines HSBC $175m Over ‘unsound’ FX Trading

HSBC has been fined $175 million by the US Federal Reserve for failing to stop its traders from misusing confidential customer information and for telling competitors about their own trading positions.

digital world map with various data points

Standard Chartered is among five banks paying $111m over foreign-exchange rigging

Standard Chartered is among five banks that have collectively agreed to settle American legal claims relating to rigging prices in the $5 trillion-a-day foreign exchange market.

Banks settle currency manipulation claims for $111m

Five more banks have agreed to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the financial industry.

fountain pen and glasses resting on a leather notebook

UBS, HSBC Pen $28M Settlement In Swaps-Rate Class Action

Banking giants agree to pay $14 million to settle class action claims that they participated in a conspiracy with other banks to manipulate a benchmark interest rate used to set terms for swaps transactions.