Retailers have been frustrated with credit card fees for years, and their opting out of a recent settlement underscores this frustration. From Reuters: A group of U.S. retailers, including Macy’s Inc. and Target Corp., sued Visa Inc. and MasterCard Inc. on Thursday, breaking off from a proposed $7.2 billion settlement reached last year over fees to process credit card transactions. The legal team representing millions of merchants came to a settlement with Visa and MasterCard over their inflation of “swipe fees” – a settlement worth over $7.2 billion. This settlement required signing an agreement protecting Visa and MasterCard from future litigation for …
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