Credit Card Settlement Frustrates Some Vt. Retailers
07/26/12 12:50PM By Jane Lindholm
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A lawsuit filed by seven million U.S. retailers against Visa and MasterCard has led to a proposed settlement that would return more than $6 billion to merchants and lower swipe fees for eight months. But this solution does not sit well with all business owners. WalMart, Target, and the National Association of Convenience Stores all oppose the settlement. And in Vermont, some retailers are also frustrated because the agreement is far less than what they hoped for.
Tasha Wallis is the executive director of the Vermont Retail Association. She spoke with Vermont Edition about the proposed settlement.