While politicians have been arguing over who's doing more for small business, one independent businessman with no campaign agenda has dedicated the last seven years of his life to pursuing a lawsuit advocating for merchants like himself. Mitch Goldstone, the CEO of ScanMyPhotos.com, became a small business hero last week when he won a $7.25 billion settlement—the largest private antitrust settlement in U.S. history—that promises to put large sums of money back into the pockets of millions of businesses that accept credit cards.
Goldstone, of Irvine, Calif., was the lead plaintiff in a class action lawsuit filed in 2005 that alleged that Visa and MasterCard illegally fixed interchange fees—the so-called swipe fees that U.S. merchants pay the card companies for the privilege of accepting consumers' credit payments.
Yahoo! Small Business Advisor spoke with Goldstone as he celebrated his legal victory last week.
Yahoo! SBA: This is a real David vs. Goliath story. How did it start?
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