GoKawiilSan Diego pizzeria sues Visa, Mastercard and five banks over credit card fees
A San Diego pizzeria has filed a proposed class action against Visa, Mastercard, Bank of America, Capital One, Chase, Citibank and Wells Fargo, alleging a long-running conspiracy to fix interchange fees charged to merchants on credit card transactions. The 134-page complaint claims the companies impose rules forcing merchants to accept all cards of a given network regardless of cost and bars steering customers toward cheaper payment options, calling the fees 'monopoly rents.' The suit comes despite a prior class action settlement exceeding $5 billion over similar allegations.
GoKawiil's interpretation of the reporting above, not reported fact.
The case suggests merchants and their attorneys believe prior settlements failed to curb the underlying fee-setting structure, potentially inviting further litigation across the payments industry. If certified, the class action could expose major banks and card networks to additional financial liability and renewed regulatory scrutiny of interchange fee practices.
- A San Diego pizzeria is leading a proposed class action against Visa, Mastercard and five major banks.
- The suit alleges interchange fees are fixed through anticompetitive rules preventing merchant choice.
- It follows an earlier $5 billion settlement over similar claims, suggesting the issue remains unresolved.
Source: classaction.org, 2026-10-07
Published there as: “Visa, Mastercard, Major Banks Facing New Litigation over 'Anticompetitive' Fees”
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