Nat L Retail Federation To Appeal Credit Card Swipe Fee Settlement
Litigation surrounding credit card swipe fees has been in and out of court for nearly a decade, beginning in 2005, when according to Bloomberg, merchants filed a class action against credit card companies and their banks alleging price fixing. On December 13, Judge Gleeson, District Judge for the Eastern District of New York, approved a class action settlement, dubbed by Bloomberg as the “largest-ever U.S. antitrust accord.” That may all change, however, as the National Retail Federation recently filed a notice of appeal to the Second Circuit....