NEW YORK, March 26 (Reuters) - Visa and Mastercard ( MA )

have reached a settlement to cap credit card fees for

retailers, resulting in an estimated $30 billion of savings over

five years.

The antitrust settlement announced on Tuesday is one of the

largest in U.S. history, and upon court approval would resolve

claims in litigation that began in 2005.

Retailers had accused Visa and Mastercard ( MA ) of overcharging

them on interchange fees, or swipe fees, when shoppers used

credit or debit cards, and barring them through "anti-steering"

rules from directing customers toward cheaper means of payment.

The settlement would lower interchange rates by four basis

points (0.04 percentage points) in the United States for three

years, and cap rates for five years.

It would also remove anti-steering restrictions and enable

competitive pricing, lawyers for retailers said.