In 2010, 17 states and the federal government sued three major credit card companies, American Express, Visa, and MasterCard, for unreasonably restraining trade in violation of the Sherman Act. The Petitioners argued the credit card companies had used anti-steering provisions to impermissibly suppress free market competition. Unlike American Express, Visa and Mastercard decided to rescind their anti-steering provisions and not proceed to trial. American Express went on to lose on the district court level but achieved a reversal in the Second Circuit.
Today, June 25th, the Supreme Court affirmed the Second Circuit’s ruling in a 5-4 opinion authored by Justice Clarence Thomas. Justice Thomas was joined by Justices Gorsuch, Kennedy, Alito, and Chief Justice Roberts.
Oramel Skinner joins us to discuss the Court’s ruling and its implications.
Featuring:
Oramel Skinner, Chief of Government Accountability & Special Litigation Unit, Arizona Attorney General's Office.
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