The settlement of Visa and MasterCard with retailers - amounting to $3 billion over the next ten years - will not impact credit card ABS, as "The industry's credit card practices were never targeted by the lawsuit," noted Banc One Capital Markets researcher Alessandro Pagani in an industry comment.

The settlement stems from antitrust claims against the two payment networks, led by Wal-Mart, which took issue with Visa and MasterCard forcing retailers to accept their debit cards as a requisite for accepting the credit card.

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