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Credit Card Swipe Fee Final Settlement Not Slowing Down
December 11, 2012
The once forgotten, but now hotly contested credit card swipe-fee lawsuit settlement continues to inch forward towards a final approval in a New York court.
In a bid to halt its progress, a group of merchants filed a motion in a federal Appeals Court to expedite the appeals process. Some of those merchants were not involved in the original lawsuit. This essentially was their bid to jump over the final ruling and get right to the appeal, but the judge would have none of it. Yet, this indicates that the battle is far from over and even if the court finalizes the settlement next year, a protected appeals case will delay any near term implementation of its terms.
From Fox Business News via Down Jones:
The Second Circuit Court of Appeals said it was deferring briefing for an appeal of the settlement until the deal receives final approval from the U.S. District Court in Brooklyn, where the litigation is currently pending. A ruling on final approval is expected next year.
to read more at Fox Business News.
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