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American Express Antitrust Ruling Won't Help Consumers

Old_JoeOld_Joe
edited February 2015 in Off-Topic
A federal judge in New York ruled that American Express violated antitrust laws when it told merchants they couldn’t both accept its cards and try and “steer” customers to cards offered by archcompetitors Visa and MasterCard, rejecting Amex’s argument it was merely trying to level the playing field.

Amex promptly lost $1.5 billion in market value on the news, suggesting the company’s concerns about losing market share to larger Visa and No. 3 MasterCard aren’t far off the mark.

One thing is certain: Consumers aren’t likely to see lower prices as a result of the ruling.

Forbes Article

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