Bank of America Corp. said it will contribute a total of $738 million to settle a price-fixing case brought by retailers over credit-card swipe fees.

The lender agreed to pay $199 million in cash for claims related to MasterCard Inc. in addition to $539 million that Visa Inc. previously deposited into a litigation escrow fund, the Charlotte, N.C.-based bank said Aug. 2 in a regulatory filing.

Visa, MasterCard and some of the largest U.S. banks agreed last month to pay merchants $6.6 billion and temporarily reduce interchange fees to settle the antitrust lawsuit in federal court in Brooklyn, N.Y.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry