Dive Brief:

• The National Retail Federation filed an appeal on Thursday, asserting that a $5.7 billion settlement over swipe fees was "an abuse of the class action system."
• The filing with the 2nd U.S. Circuit Court of Appeals seeks to overturn a lower court's approval of the agreement between retailers and Visa and Mastercard.
• Originally set at $7.25 billion, the settlement shrank to $5.7 billion after retailers, including Target and Macy's, opted out.

Dive Insight:

In what was already fierce fight to begin with, the NRF's move to appeal this settlement approval may send the argument back to square one. Retailers are angry about surcharges, but Visa and Mastercard want to see compensation for the fees in the form of surcharges in stores. Major retailers are rejecting that proposal and want to see transaction fees reduced across the board.