NSGA Recommends Rejecting Latest “Swipe” Fee Settlement Attempt

DOWNERS GROVE, ILLINOIS (December 8, 2025) – The National Sporting Goods Association (NSGA), a member of the Merchants Payments Coalition (MPC), has been following the longstanding antitrust litigation over Visa and Mastercard’s credit card “swipe” fee practices. There is a new proposed settlement associated with the 2005 class-action lawsuit alleging that Visa and Mastercard violated federal antitrust law by centrally price-fixing swipe fees charged by all banks that issue cards under their brands. 
 
An earlier settlement was overturned by the 2^nd U.S. Circuit Court of Appeals after merchants said it would do nothing to change the cartel-like pricing practice. This second proposed settlement fails to overcome U.S. District Judge Margo Brodie’s reasons for rejecting the last settlement and should also be rejected as it is not advantageous to merchants. Nothing in the proposed settlement changes the dominance of the Visa-Mastercard duopoly. 

More information from the MPC can be found by clicking here. If you believe this settlement does not offer enough protection and remedy for merchants, you may send objections to the proposed settlement. Please click here for information on how to file an objection with the Court and for a template to begin your objection. The deadline to submit a statement is December 12, 2025. We know it’s a tight turnaround, but it is important that the judge hear directly from businesses impacted if you’d like to do so. 

NSGA and the Merchants Payments Coalition advocate for the passage of the Credit Card Competition Act, which would legislate competition into the credit card processing market and help to control merchants’ expenses. By passing the Credit Card Competition Act, the Visa/Mastercard duopoly would confront mandated competition in the transaction marketplace.

Contact your federal officials and ask them to support the Credit Card Competition Act! You may find your elected officials here. 

The National Sporting Goods Association (NSGA) advocates on behalf of retailers and team dealers on matters affecting small businesses and the sporting goods industry. For more information click here. For inquiries, contact advocacy@nsga.org. 

NSGA is a member of the Merchants Payments Coalition (MPC).