Judge Margo Brodie of the New York Court said she is preparing to reject the proposed $30 billion antitrust settlement by Visa and Mastercard. The National Retail Federation previously criticized the settlement for having obvious shortcomings and benefiting merchants very little.

Both credit card companies expressed disappointment with the judge's decision. Mastercard stated that the settlement was a fair resolution that provides greater flexibility for merchants in handling card transactions, while Visa reiterated that it is an appropriate solution.

The settlement agreement announced by the two companies at the end of March will resolve most of the lawsuits in the United States. For a long time, merchants have complained that the two companies charge excessive card fees or interchange fees when processing credit and financial card payments, and unlawfully prohibit merchants from directing customers to cheaper payment methods.