Opposition To $7B Visa, MasterCard Swipe Fee Deal Grows

Law360, New York (September 11, 2012, 12:00 PM EDT) -- Two retailer advocacy groups on Tuesday became the latest to oppose a proposed $7.25 billion settlement of multidistrict antitrust allegations that Visa Inc. and MasterCard Inc. charged excessive swipe fees, saying the deal would do nothing to prevent the companies from abusing the system.

The National Retail Federation said in a statement that its directors had authorized the trade group to go to court to oppose the settlement of the New York MDL. They called the billion-dollar deal “a lose-lose-lose for merchants, consumers and competition,” a...
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