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More than 1,000 retailers oppose $7.2 billion Visa/MasterCard credit card fee settlement

Opponents claim the deal does not offer reform to the flawed swipe fee system

We already knew that Wal-Mart, Target and the National Retail Federation were less than pleased with a $7.2 billion credit card fee settlement between Visa Inc., MasterCard Inc., banks and a class of merchants. But it turns out they were far from the only disgruntled retailers.

On Thursday, almost 1,200 retailers pledged to urge a federal judge to reject the settlement, which, if approved, would be the largest antitrust settlement in history. But that’s not why they’re upset.

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