Judge John Gleeson

The NRF issued the following statement from its Senior Vice President and General Counsel Mallory Duncan in response to U.S. District Court Judge John Gleeson's approval of an antitrust lawsuit over credit card swipe fees. "We're very disappointed that this deeply flawed settlement has been approved. It's not supported by the retail industry and would do nothing to reduce swipe fees or keep them from rising in the future. The settlement permanently ties the hands of thousands of businesses who wanted nothing to do with this misguided case, and a decision to approve it violates established law and common sense."

Several months after successfully getting debit card transaction fees capped, retailers are taking aim at credit card transaction fees. According to TheStreet, 5 million retailers have filed an antitrust lawsuit against Visa, MasterCard and 13 other large banks.

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