Monday, June 3, 2013

Response from IRRA on Proposed Swipe Fee Lawsuit Settlement

A few months ago I posted some details on the proposed settlement for the MasterCard/Visa lawsuit.  As you know the deadline to receive a part of the proposed settlement expired on May 28th, 2013.

The IRRA (International Running Retailer Association) send me an email that they have asked their members (mostly retail running stores) to "opt out" of the proposed settlement. The IRRA feels that the settlement does nothing to make permanent changes to merchant services fees.

By opting out, it is hoped that this sends a message to the courts that the proposed settlement is unfair.

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