Visa, Mastercard Accused Of Anticompetitive 'Floor' In Fees

[Gunnar Larson]

As a co-founder at Bank.org, today I respectfully share that
WorldBank.org's current President was formally the CEO at Mastercard
(below).


Not sure what Mastercard's Inclusive Growth has to do with PayPal's Master
Card relationship?


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Visa, Mastercard Accused Of Anticompetitive 'Floor' In Fees
<https://www.law360.co.uk/financial-services-uk/articles/1797739?nl_pk=a94fc7ab-a9ab-4472-a647-9bf619c7b000&utm_source=newsletter&utm_medium=email&utm_campaign=financial-services-uk&utm_content=2024-02-15&read_main=1&nlsidx=0&nlaidx=0>

By Lucia Osborne-Crowley

A group of merchants argued on Wednesday that Visa and Mastercard breach
antitrust laws when they charge interchange fees and impose rules on some
card schemes, saying that they are anticompetitive because there is no fair
negotiation.

Read full article »
<https://www.law360.co.uk/financial-services-uk/articles/1797739?nl_pk=a94fc7ab-a9ab-4472-a647-9bf619c7b000&utm_source=newsletter&utm_medium=email&utm_campaign=financial-services-uk&utm_content=2024-02-15&read_more=1&nlsidx=0&nlaidx=0>
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<https://www.law360.co.uk/financial-services-uk/articles/1797739?nl_pk=a94fc7ab-a9ab-4472-a647-9bf619c7b000&utm_source=newsletter&utm_medium=email&utm_campaign=financial-services-uk&utm_content=2024-02-15&read_later=1&nlsidx=0&nlaidx=0>


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https://www.worldbank.org/en/about/people/a/ajay-banga

*Ajay Banga, 14th President of the World Bank Group *

Ajay Banga began his five-year term as World Bank Group President on June
2, 2023.

Ajay Banga most recently served as Vice Chairman at General Atlantic.
Previously, he was President and CEO of Mastercard, a global organization
with nearly 24,000 employees.  Under his leadership, MasterCard launched
the Center for Inclusive Growth, which advances equitable and sustainable
economic growth and financial inclusion around the world. He was Honorary
Chairman of the International Chamber of Commerce, serving as Chairman from
2020-2022.
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