Walmart Wants $5 Billion In Swipe Fees Back

Walmart Wants $5 Billion In Swipe Fees Back
(Undated) -- Big-box retail juggernaut Walmart wants to see Visa in court. The "Wall Street Journal" reports the retailer filed suit this week asking for five-billion dollars in what it claims are unfair credit card swipe fees. Walmart's attorneys claim Visa's fees violate federal regulations and generate more than 350-billion dollars for card issuers over the course of a decade. Credit card companies charge retailers a fee every time customers pay with a credit or debit card. Those fees are determined by the card company.