Hobby Lobby Sues Over Credit Card Fees

Oklahoma City-based Hobby Lobby Stores is fighting Visa and MasterCard in court over what it claims are excessive fees for accepting debit and credit cards at its stores. Hobby Lobby and its sister company Mardel have filed an antitrust lawsuit against Visa and MasterCard in U.S. District Court in Oklahoma City over the fees, which are charged to merchants each time a customer swipes a debit or credit card. Hobby Lobby, which has more than 600 stores across the United States, claims in its lawsuit that Visa and MasterCard's near total dominance of the payment processing market gives them the ability to fix prices.