So apparently Wal mart and Target have rejected the settlement.
Good news for us?
Like I have said before the banks and retailers need to work something out that does not involve a surcharge. Having a minimum purchase is fine. I have no trouble paying cash for things less than 10 dollars. Anything greater and the swipe fees should already be built in and the profit margin should be able to absorb them. The disgusting thought is paying a surcharge on hotel, car rentals, or airline tickets. Tacking on a percentage to that is not chump change for the leasure traveler.
This lawsuit needs to be worked out without surcharges. Even if swipe fees are lowered (not capped, capping a price on something is stupid. Let the free market work it out. How would the retailers like it if there were price caps on the things they could sell?) I don't mind having less generous sign up bonuses and rewards in exchange for knowing I will not be charged extra for using my credit card.