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American Express violated U.S. antitrust laws by barring merchants which required merchants to pass along those costs in the form of higher prices. At the center of the case are the fees merchants pay to process credit and debit cards, which have Costco Wholesale Corporation’s (NASDAQ:COST) decision to end its credit card partnership with American Express Company (NYSE:AXP) is likely to present an opportunity to other companies including JPMorgan Chase & Co. (NYSE:JPM) and Citigroup Inc (NYSE New York • American Express violated U.S. antitrust laws by barring merchants which required merchants to pass along those costs in the form of higher prices. At the center of the case are the fees merchants pay to process credit and debit cards While American Express renewed its multi-year co-branded agreements with Cathay Pacific Airways Ltd, Starwood Hotels & Resorts Worldwide Inc (HOT) and Delta Airlines Inc. (DAL) in 2014, the company was not able to pull through with the Costco deal. Shares of American Express Company (NYSE: AXP) plunged heavily over the last few days as analysts continued to either downgrade the stock or reduce its price target. CNBC’s Jim Cramer recently questioned the company's credibility. He also opined on Ohio Attorney General Mike DeWine today announced that a federal judge has ruled in favor of Ohio, the U.S. Department of Justice, and 16 other states in finding that American Express Co.’s allowing merchants to pass on those savings to consumers .
NEW YORK — American Express violated U.S. antitrust laws by barring merchants which required merchants to pass along those costs in the form of higher prices. At the center of the case are the fees merchants pay to process credit and debit cards FILE - This Tuesday, Jan. 17, 2012 file photo shows the corner of an American Express card in Surfside, Fla. A judge on Thursday, Feb. 19, 2015 ruled that American Express violated U.S. antitrust laws by barring merchants from asking customers to prefer 9 American Express (NYSE:AXP) illegally restrains trade by barring merchants from asking consumers to use cards with lower merchant fees, a federal judge in Brooklyn said. The DOJ's lawsuit, which went to trial last year, alleged AmEx's rules harm .
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