retail news in context, analysis with attitude

Retailers and associations that object to the proposed settlement of antitrust litigation over interchange fees - or "swipe fees" - imposed by credit/debit card companies plan to hold a conference call today to give voice to their continued opposition, saying that "it will continue to allow the credit card industry to take advantage of merchants and their customers while blocking competition and choice."

According to the announcement, "The named class plaintiffs opposing the proposed settlement include: Affiliated Foods Midwest, Coborn's, Inc., D'Agostino Supermarkets, Jetro Holdings, Inc. and Jetro Cash & Carry Enterprises, National Association of Convenience Stores (NACS), NATSO, National Community Pharmacists Association (NCPA), National Cooperative Grocers Association (NCGA), National Grocers Association (NGA), and National Restaurant Association (NRA).

"The named plaintiffs have been joined by a growing chorus of members of the merchant class in the litigation including the National Retail Federation (NRF), Retail Industry Leaders Association (RILA), and National Association of College Stores (NACS), who have come out in opposition to the proposed settlement. The associations opposing the proposed settlement represent hundreds of thousands of stores with trillions of dollars in sales, which is a demonstration of the fundamental problems with the proposal."
KC's View:
It is hard to imagine how this settlement gets approved. And I'm not sure how named plaintiffs that object to the settlement can be ignored.