NEW YORK — The National Retail Federation is opposing a proposed $7.25 billion settlement that Visa Inc., MasterCard Inc., and major banks have agreed to pay retailers for alleged fee fixing.
The retail trade association said Tuesday that its board has given approval for it to go to court to try to block the settlement. The federation, which is not a party to the lawsuit that led to the settlement, says it is unsure whether outside groups will be allowed to intervene, or if the case qualifies as a class action.
The federation says it believes the proposed settlement will not stop swipe fees from continuing to rise, which will hurt both retailers and shoppers, and that it will prevent any future legal challenges.
The federation represents more than 9,000 retailers of various sizes, including chain restaurants and industry partners, from the United States and 45 other countries.
‘‘The settlement was by the credit card companies and for the credit card companies. This will not help merchants or customers,’’ said Mallory Duncan, senior vice president and general counsel for the federation.