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AP-National

Deadline for businesses to apply for their share of massive credit card company settlement looms

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Published 7:59 AM

By MAE ANDERSON
AP Business Writer

NEW YORK (AP) — A deadline is looming for millions of businesses who may be entitled to a payout in a $5.5 billion antitrust settlement with Visa and Mastercard. Any businesses that accepted Visa and/or Mastercard credit or debit cards in the U.S. between January 1, 2004 and January 25, 2019 may be eligible to receive part of the settlement. Eligible owners whose businesses have closed can also submit a claim. The settlement stems from a 2005 lawsuit that alleged merchants paid excessive fees to accept Visa and Mastercard credit cards, and that Visa and Mastercard and their member banks violated antitrust laws.

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