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NRF expresses disappointment over swipe fee settlement

December 16, 2013

The National Retail Federation has issued the following statement from Senior Vice President and General Counsel Mallory Duncan in response to U.S. District Court Judge John Gleeson's approval of an antitrust lawsuit over credit card swipe fees.

We are very disappointed that this deeply flawed settlement has been approved. It is not supported by the retail industry and would do nothing to reduce swipe fees or keep them from rising in the future. The settlement permanently ties the hands of thousands of businesses who wanted nothing to do with this misguided case, and a decision to approve it violates established law and common sense. We are reviewing the ruling and will take whatever steps are necessary to protect the rights of merchants and safeguard the pocketbooks of their customers.

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