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After a decades-long legal battle, merchants nationwide struck a deal with Visa and Mastercard. The proposed settlement would temporarily trim some fees received by banks by 0.1 percentage points. Those fees now average around 2%.

Visa and Mastercard reach deal with merchants over credit card swipe fees

As part of the proposed settlement, the credit card companies will temporarily lower the swipe fees for merchants. But not everyone sees this as a satisfying end to a legal battle that stretched on for 20 years.
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