American express sues over card ban
Publish date: 18 November 2004
Issue Number: 1220
Diary: Legalbrief Today
Category: Competition
In a sequel to a court ruling barring Visa International and MasterCard International from stopping banks from selling rival cards, American Express is now suing the two credit card companies.
The Los Angeles Times reports the antitrust suit, which also names eight banks as defendants, seeks billions of dollars in damages. The suit, filed in New York, follows court decisions striking down Visa and MasterCard rules that blocked 20 000 banks and other financial institutions that issued their cards from also distributing American Express cards. Full report in the Los Angeles Times
