U.S. Supreme Court liberals sceptical of American Express merchant fees
Liberal U.S. Supreme Court justices on Monday sharply questioned American Express Co (AXP.N) over its policy of forbidding merchants from encouraging customers to use rival credit cards with lower fees, a practice that some states and the Trump administration have concluded violates federal antitrust law. The high court heard about an hour of arguments in an appeal by the states, led by Ohio, of a 2016 ruling by a lower court in New York that cleared American Express of unlawfully stifling competition through its so-called anti-steering provisions in contracts with merchants. While liberal Justices Elena Kagan, Sonia Sotomayor and Stephen Breyer signaled hostility toward the company’s policy, conservative Justice Neil Gorsuch indicated support for American Express.
Source:: https://finance.yahoo.com/news/u-supreme-court-justices-sceptical-174335543.html
