American Express Co., the travel and financial services giant, said Monday it was suing Visa and MasterCard over anticompetitive business practices.
The way for the lawsuit was cleared by the U.S. Supreme Court on Oct. 4, when it issued a final ruling in an antitrust case brought by the Justice Department, which accused the two biggest card associations in America, Visa USA Inc. and MasterCard International Inc., of restraining competition.
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