New Source: JusticeNewsFlash.com
07/29/2012 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Bentonville, Ark – Wal-Mart Stores Inc. is reportedly opposing a card fee settlement proposal agreed upon by credit card issuers amid price fixing allegations. As reported by the Associated Press (AP), the retail giant has urged retailers to not accept a $6 billion settlement offer made by major credit card issuers and banks who have been accused in a lawsuit of conspiring to fix merchant fees for the acceptance of credit cards.
The proposed settlement will reportedly allow stores to charge customers more for credit card use.
Wal-Mart is quoted by the AP as saying of the matter in a statement, “As Walmart continues to seek reform that will provide transparency and true competition among financial institutions, we encourage all merchants to put consumers first and reject the settlement.”
Justice News Flash delivers the latest in Arkansas business litigation news.
Media Information:
Address: 215 South Olive Suite 300 W. Palm Beach FL 33401
Phone: 866-598-1315
Url: http://justicenews.visionsmartnews.com/wal-mart-opposes-proposed-card-fee-settlement_7348.html News Source: JusticeNewsFlash.com – Press Release Distribution