MasterCard to settle lawsuit with American Express

MasterCard has announced that they are now going to settle their lawsuit with American Express.

The world’s second-largest credit-card network would be paying American Express up to $1.8 billion to settle this lawsuit.

The lawsuit claimed that MasterCard and Visa forced banks to not issue credit cards from the rival company.

MasterCard added in its statement that they would take a $1 billion charge in the second quarter for the settlement.

Discover Financial Services is another company which has targeted MasterCard and Visa with a similar lawsuit.

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