Target, Macy’s Sue MasterCard, Visa Over Card Swipe Fees

Target and Macy's joined with 15 other retailers in suing Visa and MasterCard over credit card and debit card fees after dropping out of a multibillion dollar settlement of a similar case. The biggest U.S. payment card firms illegally restrained competition for interchange fees by setting default rates and imposing almost identical rules for accepting cards, the retailers said yesterday in a federal court complaint in New York.