In what is being touted as the largest antitrust settlement ever, Visa, MasterCard and some of the US’s largest banks have agreed to pay US$7.25 billion to a class of approximately seven million retailers for allegedly conspiring to fix the fees retailers paid to accept credit and debit cards.  The settlement is subject to US court approval.  Two of the largest US retailers, Walmart and Target, have issued statements opposing the proposed settlement.  Along with organisations such as the National Retail Federation, they argue that the deal will not correct alleged anti-competitive fees that harmed both retailers and consumers.