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credit card fee settlement

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Wal-Mart Stores Inc. vowed retailers to reject the $6 billion credit card fee settlement that Visa Inc., MasterCard Inc. and other major banks had agreed to pay to retailers. More than 50 lawsuits have been filled since 2005 against Visa, MasterCard and other banks that issue the payment networks’ cards. Banks and card companies decided to reach the settlement with retailers and proposed the $6 billion credit card fee settlement.

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