Dive Summary:

• A lawsuit filed by Genseco Inc. could have “far-reaching financial consequences” for the credit card industry, retailer merchant and consumers.
• The suit filed by the Nashville, Tennessee retailer is the first of its kind to challenge credit card companies’ right to fine retailers and their baking providers for breaches of consumer data. The suit could increase the cost of using credit cards in retail stores for consumers and merchants alike.
• Genesco controls roughly 2,500 retail stores supplying a variety of footwear and apparel as Johnston & Murphy, Lids Locker Room, and Journeys brand names.

From the article:

Merchants have long complained about the system's set-up, saying card companies have financially benefited by having unilateral power to determine non-compliance and punish violators. A National Retail Federation spokesman called the system a "near-scam," trade publication Wired reported.