A New York judge gave preliminary approval on Friday to Visa's (V) and MasterCard's (MA)...

|About: Visa Inc. (V)|By:, SA News Editor

A New York judge gave preliminary approval on Friday to Visa's (V) and MasterCard's (MA) proposed $7.25B settlement with retailers over the fixing of swipe fees on credit cards. The authorization came despite the opposition of trade groups and about 1,200 retailers, including Target (TGT), Wal-Mart (WMT), Home Depot (HD) and Saks (SKS). The deal still needs final approval.