The National Retail Federation issued the following statement in response to U.S. District Court Judge John Gleeson’s approval of a controversial antitrust lawsuit over credit card swipe fees:

“We are very disappointed that this deeply flawed settlement has been approved. It is not supported by the retail industry and would do nothing to reduce swipe fees or keep them from rising in the future. The settlement permanently ties the hands of thousands of businesses who wanted nothing to do with this misguided case