Wal-Mart Sues Visa For $5B Over Card Swipe Fees

(Reuters) - Wal-Mart Stores Inc. this week sued Visa Inc. for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc. Visa declined to comment on the suit, filed Tuesday in the U.S. District Court for the Western District of Arkansas, where Wal-Mart is headquartered. Visa and other card networks charge retailers fees, called swipe fees or int...