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s08203010 s08203010
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6 years ago
Restraint of Trade. Visa U.S.A., Inc, MasterCard International, Inc, American Express (Amex), and Discover are the four major credit-and charge-card networks in the United States. Visa and MasterCard are joint ventures, owned by the thousands of banks that are their mem-bers. The banks issue the cards, clear transactions, and collect fees from the merchants who accept the cards. By contrast, Amex and Discover themselves issue cards to customers, pro-cess transactions, and collect fees. Since 1995, Amex has asked banks to issue its cards. No bank has been willing to do so, however, because it would have to stop issuing Visa and Mas-terCard cards under those networks' rules barring member banks from issuing cards on rival networks. The U.S. Department of Justice filed a suit in a federal district court against Visa and MasterCard, alleging in part that the rules were illegal restraints of trade under the Sherman Act. Do the rules harm competition? If so, how? What relief might the court order to stop any anticompetitiveness?
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cdbaker97cdbaker97
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s08203010 Author
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6 years ago
Thanks
zbmallo3
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
brina10
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2 hours ago
Thank you, thank you, thank you!
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