Restaurants Latest To Rip $7B Visa, MasterCard Swipe Fee Deal

Law360, New York (September 25, 2012, 1:28 PM EDT) -- The National Restaurant Association on Tuesday criticized a proposed $7.25 billion settlement of allegations that Visa Inc. and MasterCard Inc. charged excessive swipe fees, making it the last of six trade group plaintiffs in antitrust multidistrict litigation to oppose the deal.

The NRA joined a cresting wave of opposition to the settlement, saying in a statement that the proposed terms would not fully resolve concerns laid out in several antitrust lawsuits — now consolidated in an MDL in New York federal court — which accused Visa...
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