The multiple-party, multiple-year case over credit card interchange moved one step closer to resolution on Nov. 9 when the Honorable Judge John Gleeson granted preliminary approval of the settlement agreement between retailers, payment networks and nine major card issuers.
Decision can still be appealed and National Retail Federation said it's considering that route.
Both sides of testy dispute issue statements ahead of New York hearing.
Two trade associations of retailers have filed briefs asking a judge to reject the proposed settlement of that suit.
The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.
Electronics Payment Coalition does some comparison shopping a year after Durbin amendment took effect.
National Grocers Association comes out against the proposed anti-trust settlement between retailers and the major card brands and some major card issuers.
The longstanding dispute over credit card fees and payment practices appeared to come to a close last week when the U.S. District Court for the Eastern District of New York announced a preliminary settlement in a dispute between retailers, the major card brands and at least nine major card issuers.
Reaction to settlement of longstanding credit card anti-trust suit.