Wal-Mart Stores Inc. became the lastest retailer to reject a proposed $6 billion antitrust settlement with Visa and MasterCard over credit card fees.
"As Walmart continues to seek reform that will provide transparency and true competition among financial institutions, we encourage all merchants to put consumers first and reject the settlement," the world´s largest retailer said in a statement.
The settlement between retailers and Visa and MasterCard claims that the two credit card companies conspired with major banks to fix swipe fees. The deal would allow stores to start charging fees to customers who pay with those credit cards.
