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Visa and MasterCard may have won a major victory in the settlement of a class-action suit alleging that the credit card giants had been fixing prices by manipulating credit card swipe fees, but the results have raised concerns among merchants and some financial institutions.

The suit against Visa, based in Foster City, Calif., and MasterCard, based in Purchase, N.Y., worth $7.25 billion in July 2013 was settled on Friday for $5.7 billion in a Brooklyn, N.Y., federal court. The reduction in damages in August was due to some 8,000 merchants dropping out of the class action suit.

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