New York federal judge sets Nov. 9 as hearing date for arguments for and against proposed card interchange settlement.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.
The question of whether or not the Federal Reserve went far enough or too far in capping debit card interchange in accord with the Durbin amendment went before a U.S. District Court Judge recently.
National Retail Federation exploring intervention, not a party to the original legal fight.
Merchants Payments Coalition report says interchange rates not to blame for bank fee boosts.
Interchange settlement now opposed by Retail Industry Leaders Association, which includes Walmrt, Apple, Pepboys and Abercrombie & Fitch, among others.
National Grocers Association comes out against the proposed anti-trust settlement between retailers and the major card brands and some major card issuers.
Walmart says it's disappointed in settlement and some retail associations are advising members to not agree to proposal.
Reaction to settlement of longstanding credit card anti-trust suit.
Retail associations are celebrating what they are calling a year since their legislative victory in the battle over the Durbin amendment by asserting that none of amendment opponents' dire predictions have come true.