Judge Rejects Amex's Merchant Settlement Over Card Fee Rules

A U.S. judge rejected American Express’ settlement with merchants over credit card fees after finding the plaintiffs’ lawyer tainted the deal by exchanging confidential information with an attorney for MasterCard Inc. The rejection means that merchants and the card firm may have to renegotiate the deal or possibly go to trial. A conference is scheduled in Brooklyn, New York federal court for Oct. 5 to discuss the next steps.