October 5, 2026
The $38 billion “settlement” that fixes almost nothing.
Last week, more than 950 retailers and trade groups — including Walmart, Circle K, and the National Association of Convenience Stores — filed objections asking a federal judge to reject the revised $38 billion Visa/Mastercard swipe-fee settlement.
Their case: the deal trims interchange by just a tenth of a point, pulling rates back to 2023 levels rather than below them — while its headline concession, letting merchants decline premium rewards cards, rings hollow, since premium cards account for most of the cards consumers actually swipe. Class counsel must respond by October 14.
The takeaway for merchants is simple: the courts aren’t fixing your fees. That’s why Give Credit exists — we do the dirty work, so you keep the money.
