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