Merchants Blast $7B MasterCard, Visa Fee Deal

Law360, New York (September 12, 2013, 7:33 PM EDT) -- A coalition of some of the nation's largest retailers gathered Thursday in a Brooklyn courtroom to protest a $7.25 billion antitrust settlement over Visa Inc. and MasterCard Inc.'s swipe fees, saying the deal fails to address the credit card companies' dominant hold on the industry.

The long-awaited hearing gave opponents of the deal — believed to be the largest antitrust settlement ever — one last opportunity to voice their concerns to the court directly. If U.S. District Judge John Gleeson gives final approval to the settlement,...
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