THE NEWS: Wal-Mart Stores Inc. is urging retailers to reject a proposed $6 billion settlement that Visa Inc., MasterCard Inc. and banks have agreed to pay retailers for alleged fee fixing.
THE CONTEXT: The deal had been considered a victory for retailers. It settled a lawsuit claiming that card issuers conspired to fix merchants’ fees for accepting credit cards. Credit card issuers have agreed to reduce retailers’ swipe fees for credit cards for eight months.
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THE CONFLICT: But Wal-Mart joins Target and the National Association of Convenience Stores in saying that the settlement falls short of a real solution to the problem.
