Visa and Mastercard could lower some of the fees they charge retailers in the U.S. as part of a possible $38 billion settlement—here is what it could mean for you.

The companies announced the settlement on Monday, after 20 years of litigation over Visa, Mastercard and banks allegedly conspiring to violate U.S. antitrust laws, according to Reuters.

Visa and Mastercard have not admitted to wrongdoing in agreeing to settle.

Newsweek has contacted Visa and Mastercard, via email, for comment.

Why It Matters

The agreement, pending court approval, ends two decades of litigation involving antitrust allegations over how these fees are set.

Swipe fees are a key cost driver for both businesses and consumers, influencing product pricing and the availability of credit card rewards.

The debate h

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