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The Boston Globe

Business

$7.2b card lawsuit deal gains initial OK

NEW YORK — A federal judge gave preliminary approval Friday to a $7.2 billion settlement between major credit card companies and retailers over alleged fee-fixing, parties involved in the case said.

Visa, MasterCard, and other card companies agreed in July to settle a lawsuit brought by retailers that claimed card issuers conspired to fix the fees they charge stores for accepting credit cards.

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