Retailers Appeal Credit Card Swipe Fee Settlement

The National Retail Federation (NRF) yesterday filed an appeal of an antitrust lawsuit settlement covering credit card swipe fees, asking the 2nd U.S. Circuit Court of Appeals to overturn a lower court's ruling. NRF Senior Vice President and General Counsel Mallory Duncan issued the following statement after the notice to appeal was filed: "NRF is filing the appeal to overturn the flawed credit card swipe fee settlement. The settlement does nothing to reform the price-fixing payments system that's let credit card swipe fees skyrocket over the past decade and nothing to keep them from continuing to soar in the future."