Eastern District Judge Nicholas Garaufis said American Express' rules restricting merchants from steering customers to other credit cards with lower merchant fees impaired competition with other card issuers, stunted innovation and led to higher costs for merchants and consumers.
February 20, 2015 at 12:00 AM
1 minute read
American Express violated antitrust laws with its rules restricting merchants from steering customers to other credit cards with lower merchant fees, a federal judge has concluded.
“The challenged restraints constitute an unlawful restraint on trade,” Eastern District Judge Nicholas Garaufis (See Profile) said Thursday in United States v. American Express Company, 10-cv-4496, following a seven-week bench trial over the summer.
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