They haven't had much success in getting the work banned. The alternative is to mock or rewrite it.
From Wikipedia:
For instance, in the 2004 film adaptation directed by Michael Radford and starring Al Pacino as Shylock, the film begins with text and a montage of how Venetian Jєωs are cruelly abused by bigoted Christians.
Notice how completely acceptable it is to make Christian villains. I probably wouldn't have a problem if they rewrote the character. But the alternative shouldn't be bashing Christians either. If one is bad, the other must be bad. Christian relations with Jєωs have been this way for awhile. Christians do their best to not offend Jєωs. Jєωs, on the other hand, have no problems offending Christians.