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US: Judge lowers retailers’ expectations with swipe-fee settlement

 |  December 19, 2013

As US District Judge John Gleeson approved of a record-setting swipe-fee settlement offered to retailers by Visa and MasterCard, reports say the judge looked to lower the expectations for the stores still unhappy with the settlement.

While Judge Gleeson acknowledged the stores’ objections, his decision noted that “this is just an antitrust lawsuit,” and that many of the retailers’’ complaints fall outside the breadth of the case.

But such a ruling did not stop harsh criticism. The Nebraska Retail Federation said that the “real winners are Visa, MasterCard and the attorneys involved, all at the expense of America’s consumers.” Several retailers have already filed their intent to appeal the record-setting $5.7 billion settlement.

Full Content: JournalStar

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