WASHINGTON — A revised antitrust settlement on the issue of credit card swipe fees doesn't go far enough, The National Retail Federation said Friday.
The National Retail Federation estimates that U.S. retailers and their customers are benefiting from savings of up to $18 million every day since the implementation of the debit card swipe fee reform.
The National Retail Federation is set to go to court in order to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over Visa and MasterCard credit card swipe fees.
Walmart and mom-and-pop retailers are usually at odds with one another, but the issue of credit card swipe fees has Walmart sharing common ground with independent pharmacists.
First it was NRF and now the Retail Industry Leaders Association is coming out against efforts to delay swipe reform legislation.