Webinar: Visa/Mastercard announced a $6.2B settlement: What was agreed to and what should merchants understand about the settlement?

October 4, 2018
12:00 - 1:00 pm

This webinar was for current MAG merchant members only.
This webinar was not recorded.

After the first attempt to reach a settlement was overturned by the appellate courts, Visa/Mastercard announced a new settlement valued at $6.2B. Join this webinar to understand:

  • How this settlement differs from the original settlement?
  • What are merchants' options regarding the settlement?
  • What outstanding steps are needed to gain the court’s final approval?
  • How will the settlement be determined and distributed? 
  • What will merchants who accept the settlement be bound to?
  • What legal issues from the original lawsuit will still be outstanding if the monetary settlement is approved by the court?

A settlement recap is available to MAG merchant members in the MAG Resources area. Log-in is required.

: Mark Horwedel (CEO, Merchant Advisory Group)

Horwedel_Mark_headshotMark Horwedel is a 40 year payments veteran having spent 20 years with 3 different regional debit networks (18 as CEO). Mark spent 10 years working in banks and credit unions and more recently 5 years at Walmart as Director of Payments. He has served as CEO of the Merchant Advisory Group, a unique merchant trade association focused on payments, for the last 7 years. The MAG’s membership consists of 140 of the largest merchants accounting for over 60% of retail payments in the US. Sponsors include all of the payments networks as well as 8 of the largest merchant acquirers. Mark frequently represents the MAG at payment industry events where he is a frequent speaker and panelist.

Douglas Kantor (Partner, Steptoe & Johnson)

Kantor_Doug Photo

Doug Kantor successfully works every aspect of the public policy process to assess his clients’ needs, draft legislation, and advocate for the right outcome. He provides governmental advocacy, strategic advice, and legal counseling services to a range of clients before the Congressional and Executive branch agencies, and he provides legal representation for clients facing investigations by state attorneys general and the Congress. He advocates for clients in areas including financial services, technology, energy, tax issues, the judiciary, and appropriations. 

Doug has established and administered coalitions of companies and trade associations that share common legislative and regulatory objectives, a recent example of which is the Merchants Payments Coalition, which includes several merchant trade associations trying to reform the system of credit and debit card swipe fees.

Doug brings professional insight from his experience as a litigator and political appointee to develop policy-based solutions for clients. His legal experience includes defending state attorney general investigations, appellate litigation, managing internal investigations, litigating securities enforcement actions, campaign finance law counseling, privacy law counseling, and defending against class action suits.


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