THE STATE OF NEW MEXICO HAS SETTLED A LAWSUIT WITH THE NATION’S TWO BIGGEST CREDIT CARD COMPANIES…VISA AND MASTERCARD. ATTORNEY GENERAL HECTOR BALDERAS SAYS THE SETTLEMENT TOTALS 3.4 MILLION DOLLARS.
THE A-G’S OFFICE HAD ALLEGED THE COMPANIES CHARGED EXCESSIVE FEES DURING CREDIT AND DEBIT CARD TRANSACTIONS IN NEW MEXICO. BALDERAS SAYS THE AGREEMENT WILL COMPENSATE THE HARM DONE TO THE STATE’S ECONOMY AND DETER COMPANIES SEEKING TO VIOLATE CONSUMER PROTECTION LAWS.
