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Wal-Mart Opposes Planned Settlement With Credit-Card Giants

By Tess Stynes Wal-Mart Stores Inc. (WMT) became the latest major retailer to speak out against a planned multi-billion interchange-fee settlement between Visa Inc. (V) and MasterCard Inc. (MA) and companies that accept electronic payments. The roughly $7 billion settlement stems from long running litigation taking aim at the fees on each card swipe as well as rules Visa and MasterCard require merchants to abide by to accept their cards. On Tuesday, the world's biggest retailer said the proposed deal "would not structurally change the broken market or prohibit credit-card networks from continually increasing hidden swipe fees, which already cost consumers tens of billions of dollars each year." Wal-Mart's comments mirror remarks last week from Target Corp. (TGT), the second largest retailer by sales in the U.S. behind Wal-Mart. Visa and MasterCard credit cards accounted for 68% of credit-card spending at U.S. merchants in 2011, according to the Nilson Report, a payments-industry newsletter. Write to Tess Stynes at Tess.Stynes@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Target (TGT)
DateTimeHeadline
04/25/201611:10:00Target CEO's 2015 Pay Package Totals $16.9 Million
04/25/201611:01:00Target CEO Receives Pay Package of $16.9 Million for 2015
04/25/201608:21:23Additional Proxy Soliciting Materials (definitive) (defa14a)
04/25/201608:17:56Proxy Statement (definitive) (def 14a)
04/19/201603:04:00Business Watch -- WSJ
04/18/201622:10:00Target to Raise Minimum Wage to $10 an Hour
04/18/201618:20:00Target to Raise Minimum Wage to $10 an Hour
04/18/201618:18:00Target to Raise Minimum Wage to $10 an Hour
04/18/201617:06:00Target Raising Minimum Wage to $10 -Reuters
04/18/201616:52:39Current Report Filing (8-k)
04/18/201615:56:00Target Corporation Announces Pricing of Pending Maximum Tender...
04/17/201615:13:00Target's Marimekko Collection Opens to Muted Response
04/15/201619:29:00Target Corporation Announces Initial Results and Upsizing of...
04/11/201611:27:22Current Report Filing (8-k)
04/11/201611:23:34Current Report Filing (8-k)
04/11/201609:00:00Target Corp. Announces Final Results of Any & All Tender Offer...
04/08/201615:35:00Target Corporation Announces Pricing of Pending Any and All Tender...
04/05/201610:36:51Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/04/201617:25:27Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
04/04/201612:50:00Mattel Taps Jonathan Adler as Creative Director of Fisher-Price

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