SAN FRANCISCO (dpa-AFX) - Wal-Mart Stores Inc. (WMT) has sued Visa Inc. (V) for more than $5 billion, claiming the card network charged unreasonably high fees when the retailer's customers paid with credit or debit cards, according to a Wall Street Journal report.
In its lawsuit, filed this week in the U.S. District Court for the Western District of Arkansas, Wal-Mart alleges that the way Visa set those swipe fees violated antitrust regulations and generated more than $350 billion for card issuers over nine years, the report said.
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