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Nearly 1,000 Merchants Tell Judge Proposed Settlement of Visa/Mastercard Lawsuit is ‘Riddled With Loopholes’
Summary by merchantspaymentscoalition.com
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Merchants Level Multiple Objections to a Proposed Interchange Agreement
Merchants have objected to a settlement in a long-running dispute over interchange fees, alleging the deal would hand issuers liability immunity for fees and rules. Merchants, at the same time, would receive “temporary and meager relief.” On the basis of these and other objections, the merchants “urge(s) the court to deny final approval of this settlement.” The allegations surfaced Thursday via a merchant filing related to a 21-year-old federal …
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