A federal judge rejected a $30 billion settlement to cap Visa and Mastercard fees, putting an end to decades of litigation over swipe fees. U.S. District Judge Margo Brodie refused to grant preliminary approval, ordering parties to respond by Friday. Visa and Mastercard must now renegotiate or go to trial. Merchants claimed fees were excessive, leading to the settlement proposal that would have reduced average swipe fees for three years and prevented increases until 2030. Businesses could also impose surcharges based on card types. Some argued the deal didn't go far enough, with the National Retail Federation expressing disappointment. The rejection signals ongoing disputes between card companies and merchants. The National Association of Convenience Stores supports the decision, urging Visa and Mastercard to address longstanding issues before trial.