PURCHASE, N.Y. - (11/10/04) MasterCard International said thatcourts in nine states have dismissed consumer class action suitsagainst it. The lawsuits had been filed following the separatemerchant class action suit, which MasterCard and VISA lost, filedover the issue of interchange fees. The lawsuits that weredismissed were brought on behalf of consumers claiming to have beeninjured by MasterCards conduct. The courts ruled that theplaintiffs did not have a legally recognizable claim, and that theylacked standing to bring these cases. Courts also found that thedamages sought were abstract and speculative. Dismissed werelawsuits filed in New York, North Carolina, Michigan, Minnesota,Maine, North Dakota, South Dakota, Nebraska and Kansas. Separatelawsuits remain in California and Tennessee, with MasterCard sayingit remains encouraged because courts in those states have narrowedthe claims.
-
At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
10h ago -
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
10h ago -
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
11h ago -
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19