Dive Summary:

• The Retail Industry Leaders Association (RILA) intends to opt out of a potentially landmark legal settlement and has no secret of their plans to “make a statement” by rejecting the proposed settlement.
• RILA represents many popular U.S. stores including Walmart, Target and Home Depot and believe they have the judge’s backing worth a reported $7.2 billion.
• The potential settlement announced last year would have resolved an eight-year old conflict on behalf of merchants which accuses major credit card companies Visa and Mastercard of falsely raising fees used to process transactions.

From the article:

The group believes that the litigation releases in the settlement will force merchants to forego future legal claims against Visa and Mastercard in exchange for "paltry" monetary relief over years of harm from swipe fees, which have cost merchants billions of dollars, White said.