American Express files suit against credit-card giants
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American Express yesterday sued Visa and MasterCard as well as eight banks for allegedly blocking the sale of its credit cards through US banks.
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American Express has recently suffered considerable damage as around 20 thousand US banks could not use AE cards. &quot;Consumers have been damaged by the boycott by being deprived of competitive alternatives,&quot; said
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NEW YORK - Travel- and financial-services giant American Express Co. on Monday sued Visa and MasterCard as well as eight banks for damages stemming from anti-competitive practices that prevented American Express from issuing cards through US banks.
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American Express Co.  on Monday sued credit card associations Visa and MasterCard and eight banks for damages from what it called anti-competitive practices that prevented 20,000 U.S. banks from using its credit card products.
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Stocks fell sharply on Friday after American Express Co  warned of mounting credit-card defaults, adding to expectations of a U.S. recession.
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SAN FRANCISCO (AFX) -- American Express said Monday that in light of the Supreme Court&#39;s decision against Visa and MasterCard, it will seek partnerships with US banks.
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American Express Co. has filed suit against Visa, MasterCard and eight major banks alleging anti-competitive practices. Banks named in the suit include Bank of America, US Bancorp, JP Morgan Chase, Capital
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BJ&#39;s Wholesale Club Inc. is gearing up for legal battles with credit-card-issuing banks, which are demanding $16 million to offset fraudulent credit card charges and other costs related to a security breach apparently involving BJ&#39;s ...
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Securities regulators are suing the management team behind the rapid rise and fall of online credit lender NextCard Inc., alleging the company&#39;s top executives cooked the books and then scrambled to sell their stock before the ruse unraveled into
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Credit card company American Express  said on Thursday that a slowdown in cardholder spending and rising delinquencies would lead to a pre-tax charge of around $440 million for the fourth quarter.
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Now the credit-card companies are trying to tack on billions in charges to each other. American Express Co. wants rivals Visa USA Inc.
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American Express is suing Visa and MasterCard plus eight US banks, claiming anti-competitive tactics kept it out of the market. The litigation is the latest setback for Visa and MasterCard, which last month
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The Supreme Court on Monday let  stand a ruling that the Visa and MasterCard credit card  associations violated federal antitrust law by barring their  member banks from issuing credit and charge cards on the rival  American Express and Discover Card networks.
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American Express said it was suing Visa USA and MasterCard International, along with eight banks, for damages stemming from anticompetitive practices that prevented American Express from issuing cards through US banks.
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American Express (AXP:NYSE - news - research) wants rival MasterCard, Visa and eight big banks to pay damages for years of allegedly uncompetitive practices in the charge card business.
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The world&#39;s largest computer software manufacturer filed suit Tuesday in US District Court against a local software retailer it claims is selling and distributing counterfeit software labels.
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Credit card firms have raised numerous charges for using their cards in the past year, according to Which?