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National Restaurant Association Issues Statement About Settlement in Antitrust Litigation Between Merchants and Visa, MasterCard, and Major U.S. Banks

Dawn Sweeney, President and CEO of the National Restaurant Association, released the following statement in reaction to the announced settlement in the Payment Card Interchange Fee and Merchant Discount Litigation:

Dawn Sweeney, President and CEO of the National Restaurant Association, released the following statement in reaction to the announced settlement in the Payment Card Interchange Fee and Merchant Discount Litigation:

“Reforming credit and debit card swipe fees for restaurant operators has been a top priority of the National Restaurant Association for over a decade. As a plaintiff in the litigation, we are still reviewing details of this settlement; however, we believe the historic nature of the settlement is evidence of a broken marketplace, in which actions taken by the major card brands and big banks have imposed tremendous costs on small restaurant owners across the country.”

The National Restaurant Association has been a named plaintiff in the litigation for seven years, and will provide further comment after the settlement details have been fully reviewed.

 

Founded in 1919, the National Restaurant Association is the leading business association for the restaurant industry, which comprises 960,000 restaurant and foodservice outlets and a workforce of nearly 13 million employees. Together with the National Restaurant Association Educational Foundation, the Association works to lead America’s restaurant industry into a new era of prosperity, prominence, and participation, enhancing the quality of life for all we serve. 

Posted by on July 16, 2012.

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