By  on November 2, 2012

WASHINGTON — A large swath of U.S. retailers and several trade associations have risen up to oppose a $7.25 billion proposed settlement with Visa, MasterCard and major banks over interchange fees charged to merchants when consumers use credit and debit cards to make purchases.

Attorneys for about 1,200 merchants and trade associations filed separate briefs in U.S. District Court in the Eastern District of New York on Thursday and Friday, urging the court to deny preliminary approval to a proposed class-action settlement in a federal antitrust lawsuit that is pending before the court.

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