June 25, 2018 / 2:18 PM / in 4 months

U.S. Supreme Court backs American Express in merchant fee dispute

WASHINGTON, June 25 (Reuters) - The U.S. Supreme Court on Monday sided with American Express Co, ruling that the company’s policy of forbidding merchants from encouraging customers to use rival credit cards with lower fees does not violate federal antitrust law.

Spurning a group of states that had sued American Express, the court in a 5-4 ruling upheld a lower court decision that had cleared the company of unlawfully stifling competition through so-called anti-steering provisions in its contracts with merchants. (Reporting by Andrew Chung; editing by Grant McCool)

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