Visa and Mastercard settle for $30 billion, benefiting merchants

Visa and Mastercard settled for $30 billion to limit card fees, benefiting merchants and potentially lowering consumer prices. The antitrust settlement, one of the largest in U.S. history, resolves claims dating back to 2005. The agreement includes reducing interchange rates by 0.04% for three years, capping rates for five years, and removing anti-steering rules. Small businesses make up over 90% of the settling merchants.