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Thread: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

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    Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    WOW!!!!! 6billion and walmart says its not enough...I admit im happy as hell the big banks have been getting busted quite regulary...maybe, just maybe they will get sick of paying fines and start being HONEST...what a change that would be huh


    Wal-Mart Stores is urging retailers to reject a proposed $6 billion settlement that Visa, MasterCard and major banks have agreed to pay retailers for alleged fee fixing.
    The settlement, reached earlier this month, had been considered a victory for retailers. It settled a lawsuit alleging that card issuers conspired to fix merchants' fees for accepting credit cards.
    Retailers have long complained about the billions of dollars in "swipe" or "interchange" fees they have had to pay, which average about 2% of the price of a purchase.


    Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    I see Walmarts point. Sure, this sounds like a great thing but Walmart sees potential for further abuse because of lack of clarification on fees.

    I've dealt with credit cards for many years although that was is the 70s thru the mid-90s. The credit card companies can be very arbitrary and they are all powerful in a world of plastic.

    I'm not choosing a side. Theres not enough detail.

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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    I hate Walmart. Sam Walton builds a dream based on a Norman Rockwell vision of small town American and it turns out he has really built the Frankenstien monster which comes back to destroy the dream.

    Screw WM.
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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    Quote Originally Posted by haymarket View Post
    I hate Walmart. Sam Walton builds a dream based on a Norman Rockwell vision of small town American and it turns out he has really built the Frankenstien monster which comes back to destroy the dream.

    Screw WM.
    Wasnt so much sam as his kids I think....the thread wasnt to hail walmart...it was to show that the big banks have been getting busted left and right and getting spanked

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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    OK. Nobody loves Walmart except for really obese people but that has little to do with the discussion. Walmart's concern seems to be regarding the fees and thats a realistic concern.

    Quote Originally Posted by haymarket View Post
    I hate Walmart. Sam Walton builds a dream based on a Norman Rockwell vision of small town American and it turns out he has really built the Frankenstien monster which comes back to destroy the dream.

    Screw WM.

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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    Quote Originally Posted by specklebang View Post
    OK. Nobody loves Walmart except for really obese people but that has little to do with the discussion. Walmart's concern seems to be regarding the fees and thats a realistic concern.
    I don't know what you're talking about. I love Wal-Mart.
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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    I love Wal-mart too. They're convenient. They're also a great business model. I wish they didn't get as many corporate subsidies, but ah well.

    But hey, if you want to go to some mom-and-pop store and pay 20% more than what Wal-mart will charge you, that's your prerogative.

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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    Quote Originally Posted by Gipper View Post
    I love Wal-mart too. They're convenient. They're also a great business model. I wish they didn't get as many corporate subsidies, but ah well.

    But hey, if you want to go to some mom-and-pop store and pay 20% more than what Wal-mart will charge you, that's your prerogative.
    The business model where business under pay employees so that they can make a living wage, screw them over by offering the minimum benefits required, importing as much stuff from sweat shops as possible to keep prices lower than other stores thus forcing anyone who wants to stay in business to lower their wages and benefits for employees. Gotta love a business model that virtually ruins the lower and middle classes at the expense of slightly lower prices. You shoulld really think about why walmarts prices are lower yet they make so much more than anyone else. They make their money at the expense of our economy
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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    Quote Originally Posted by Republic Now! View Post
    I don't know what you're talking about. I love Wal-Mart.
    Shock of all shocks!!!!!!!

    A right winger who love Wal mart. I never thought I would live to see the day.
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    Re: Wal-Mart opposes $6 billion Visa-MasterCard fee settlement

    Almost no mom and pop stores remain but I would be OK to pay a little more. On the other hand, Amazon is cheaper than Wal-Mart, I save the 8.1% sales tax and I get free delivery to my door.

    Walmart pisses me off by not having proper signage and directories. They want to force you to wander around and buy stuff you didn't know you needed. To me, this is rude and I avoid them. Plus cellulite gives me nightmares in which I'm being chased by a chunk of cheese.

    Quote Originally Posted by Gipper View Post
    I love Wal-mart too. They're convenient. They're also a great business model. I wish they didn't get as many corporate subsidies, but ah well.

    But hey, if you want to go to some mom-and-pop store and pay 20% more than what Wal-mart will charge you, that's your prerogative.

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