Wal-Mart Opposes Interchange Suit Settlement

Wal-Mart announced it's opposed to the proposed settlement of a civil antitrust lawsuit against Visa, MasterCard and their card-issuing banks. “Wal-Mart, along with a growing number of consumer groups and merchants, is disappointed in the proposed credit card interchange fee settlement,” the company said in a statement. “The proposed settlement would not structurally change the broken market or prohibit credit card networks from continually increasing hidden swipe fees, which already cost consumers tens of billions of dollars each year.”