“Wal-Mart Stores Inc this week sued Visa Inc for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc. In December, a federal judge in Brooklyn, N.Y., approved a $5.7 billion class action settlement between merchants and Visa and MasterCard despite the objections of thousands of retailers that complained it was inadequate. Wal-Mart, Amazon.com Inc, and Target Corp were among those opting out of the monetary components of the settlement to have the freedom to seek damages on their own.”
http://www.reuters.com/article/2014/03/27/us-walmart-visa-lawsuit-idUSBREA2Q2BJ20140327
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