Los Angeles Business Journal

Big Retailers Urge Rejection of Card-Fee Settlement

Wednesday, August 22, 2012

A trade association representing the country's largest retailers formally opposed a proposed multibillion-dollar settlement reached by Visa Inc. and MasterCard Inc. in lawsuits filed by merchants over credit-card processing fees. The Wall Street Journal reports that the 70-member Retail Industry Leaders Association objects to terms that prevent retailers from suing credit-card companies in the future over processing fees.