U.S. Supreme Court justices skeptical of American Express merchant fees

Liberal U.S. Supreme Court justices on Monday sharply questioned American Express (AXP.N) over restrictions the company places on merchants forbidding them from encouraging customers to use rival credit cards with lower fees, which several states and the Trump administration claim violate federal antitrust law. The high court heard about an hour of arguments in an appeal by the states, led by Ohio, of a 2016 ruling by lower court in New York that cleared American Express of stifling competition through its so-called anti-steering provisions in contracts with merchants. While liberal justices suggested the provisions could harm consumers, the court has a 5-4 conservative majority.

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