Visa, MasterCard Settlement Order Appeal Rejected

Upon preliminary approval of the largest antitrust settlement ever at $7.25 Billion, the end is nearing for the Payment Card Interchange Fee and Merchant Discount Antitrust Litigation battle now in its seventh year. But some large retailers oppose the deal claiming they are being forced to forfeit their rights to sue over the card companies’ practices in the future. Filing their concerns in a federal appeals court to challenge the preliminary approval, a decision allowing plaintiffs to begin signing up more than 7 million eligible merchants, the court decided to defer the matter until after final judgment in the case had been issued, a decision expect late in 2013.

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