Target Says $7B Visa, MasterCard Settlement A Raw Deal

Law360, New York (July 23, 2012, 7:01 PM EDT) -- Target Corp. on Friday came out against a recent $7.25 billion settlement in antitrust multidistrict litigation against Visa Inc. and MasterCard Inc. over interchange, or swipe, fees paid by merchants, saying the deal would actually hurt consumers and retailers alike.

The retail giant released a statement saying the settlement did not offer a long-range fix for the problems with the swipe fee system and would cut off an important means — namely, litigation — for resolving future disputes over the fees without putting in place a...
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