Walmart and major retail groups have urged a U.S. judge to reject a proposed antitrust settlement with Visa and Mastercard, arguing it allows the firms to continue charging excessive swipe fees and forces merchants to waive claims without meaningful reform. The $30bn case, settled in November, would slightly cut fees for five years, but critics say it was negotiated by smaller merchants without representing the broader $2.7tn industry and undermines other legal challenges and regulatory scrutiny. The case is In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, U.S. District Court, Eastern District of New York, No. 1:05-md-01720-BMC-JAM.
