Lawyers at Arnold & Porter Kaye Scholer on Monday removed an antitrust lawsuit against nearly a dozen financial institutions to California Northern District Court. The suit alleges that the defendants have utilized ‘interchange fees’ that are fixed and stabilized by card-issuing banks, merchant banks, Visa and Mastercard payment-card networks and merchants to facilitate an unlawful price-fixing scheme. The complaint was filed by Alioto Law Firm; Nedeau Law; and other plaintiff firms. The case is 3:23-cv-00423, Palladino et al v. JPMorgan Chase & Co. et al.
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