Retailers Battling Swipe Fees Are Pushing Back on Settlement

Trade groups representing major retail chains including Walmart Inc. told a federal judge that they opposed a proposed $200 billion settlement in a longstanding antitrust suit against Visa Inc. and Mastercard Inc. over so-called swipe fees.

In a hearing in federal court in Brooklyn Monday, US District Court Judge Brian Cogan didn’t immediately rule in the matter, saying he would issue a written decision about the $200 billion settlement at a later time. The settlement seeks to resolve an antitrust class action on behalf of millions of merchants.