Industry group rejects proposed $6.6 billion antitrust settlement over credit-card swipe fees

CSP Daily News is reporting that the National Association of Convenience Stores has rejected the proposed settlement of the longstanding antitrust litigation between merchants and the credit-card industry. The National Association of Truck Stop Operators is still evaluating whether to accept the settlement. Both are class plaintiffs in the seven-year legal action.

Merchants are seeking a fundamental change in the rules and practices of the credit-card industry, which dictates interchange (swipe) fees a merchant pays to banks each time a credit card is used. Read more from CSP: http://www.cspnet.com/news/services/articles/nacs-says-no-visa-mastercard?