Grocers Group Latest To Oppose $7B Interchange Fee Deal

Law360, New York (July 26, 2012, 5:42 PM EDT) -- The National Grocers Association on Thursday became the second named plaintiff in multidistrict litigation over interchange fee antitrust claims to oppose a $7.25 billion settlement with Visa Inc. and MasterCard Inc., hiring the same law firm already handling a similar challenge.

The NGA's board voted unanimously to oppose the proposed settlement after concluding that despite the large dollar figure, the deal would do little to stop the credit card giants from continuing their allegedly anti-competitive management of the so-called swipe fee system.

"NGA joined the lawsuit...
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