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Visa and MasterCard settle lawsuit, but merchants aren't celebrating

from The New York Times

The tentative $7.3 billion deal made last month between credit card companies and merchants was announced with fanfare by the lawyers who negotiated it, but the celebration may have been premature. Some merchants and retail advocates, including four organizations that are plaintiffs in the lawsuit, oppose the deal because, they say, it offers too little and will make it harder to take legal action against credit card companies in the future. The settlement is still subject to court approval and is unlikely to become official before the middle of next year. more

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