Judge in Target Case Denies Injunction Request
A judge has denied the request of five financial institutions, including one credit union, to stop a proposed settlement between Target and MasterCard. The five had argued that the settlement was far less than the issuers’ actual damages, was not properly calculated, was negotiated without consulting the issuers, and could pressure other issuers to accept the offer or risk losing the ability to issue MasterCard products. [5/11/15]