Objecting Merchants Win as Second Circuit Vacates Class Action Settlement for Visa/Mastercard Interchange “Swipe” Fees
- July 1, 2016
On June 30, 2016, the Second Circuit reversed the District Court’s approval of a class-action settlement concerning the fees Visa and Mastercard charge merchants for accepting credit cards. ECBAWM represents the leading merchant trade groups that objected to the settlement, The National Retail Federation and Retail Industry Leaders Association. ECBAWM attorneys Andrew G. Celli, Jr. and Debra L. Greenberger wrote one of the two primary objecting merchant appeals briefs; Mr. Celli and ECBA attorney Diane Houk handled the case in the District Court.