ARLINGTON, Va. – With the court drawing closer to unsealing the documents involved in the fight with Wal-Mart and other retailers, Visa officials told the American Banker that nothing about the Honor All Cards rule prevented Wal-Mart or the other retailers from influencing customers to use cards with a lower interchange rate. Visa officials said that the association had argued before Judge John Gleeson of the U.S. District Court for the Eastern District of New York that Wal-Mart’s argument does not meet the legal requirements for anti-trust since the associations’ “Honor All Cards” rules do not prevent merchants from accepting or even steering customers to PIN-based debit. The officials also said the company had argued that the growth of EFT networks undermines the plaintiffs’ claims of debit monopolization, and that the plaintiffs’ formula for calculating damages is illogical, because it looks only at the price of offline debit transactions and excludes other cost implications. All parties’ summary judgment briefs have been under seal since they were filed in June 2000. On Tuesday, Judge Mann issued an order giving the parties until Friday to take a last look at the docket before the unsealing begins, the paper reported.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.