Retail group opts out of swipe fee settlement The National Retail Federation became the latest organization Tuesday to reject a proposed settlement in a lawsuit concerning credit card swipe fees charged by Visa and MasterCard, and is asking retailers to do the same. At issue is a 2005 lawsuit filed on behalf of several retailers who accused Visa, MasterCard and several large banks of conspiring to set swipe fees for credit card purchases at arbitrarily high levels. Both sides agreed to a settlement last year, but many associations said terms of the settlement would provide the companies legal cover to continue the practice. "The proposed settlement does nothing to bring… Read More