Following Target, Wal-Mart Opposes $7B Swipe Fee Deal

Law360, New York (July 24, 2012, 1:06 PM EDT) -- Wal-Mart Stores Inc. became the latest retailer to criticize a recent $7.25 billion settlement in an antitrust class action against Visa Inc. and MasterCard Inc. over interchange fees paid by merchants, saying Tuesday that the deal fell short of making real change.

Just a day after Target Corp. announced its opposition to the settlement, Wal-Mart said in a statement that it was disappointed with the terms of the agreement because it would not put in place an effective barrier to prevent credit card companies from perpetually...
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