NATSO Statement on Proposed Settlement in Antitrust Litigation
Friday, July 13, 2012
NATSO, the association representing the travel plaza and truckstop industry, announced today that it will carefully review a proposed settlement in antitrust litigation between merchants and the credit card industry before deciding whether to accept it.
NATSO is a class plaintiff in the seven-year legal action. Merchants are seeking a fundamental change in the rules and practices of the credit card industry, which dictates swipe fees a merchant pays to banks each time a credit card is used.
"NATSO will carefully review the impact of the settlement and will examine whether it will go far enough in fixing this broken system," said Lisa Mullings, president and CEO of NATSO. "The size of this monetary award will make headlines, but we must carefully evaluate whether the settlement goes far enough to ensure competition and transparency in the credit card industry."