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.

More than 60% of all purchases last year were made with a credit or debit card, according to the Federal Reserve. That’s up from 45% in 2016.

Charge cards have become an important piece of the bottom line for department stores, including Nordstrom, Macy’s and Kohl’s.

Merchants paid $126 billion in credit card fees in 2022, up 20% from the year before. The pushback is playing out in lobbying campaigns and Congress.