Payment card interchange fee class action settlement

July 11, 2019

This settlement resolves allegations that VISA, MasterCard and their issuing banks violated the law by charging excessive interchange fees to merchants. The proposed settlement will be $5.54 – $6.24 billion depending on opt outs and applies to all merchants who accepted VISA or MasterCard branded credit or debit cards between January 1, 2004 – January 25, 2019. The settlement was granted preliminary approval on January 24th and there is a final approval hearing scheduled for November 7th.

Our partner, Class Action Capital, specializes in the research, data collection and filing of complex class action settlement claims. If you choose to work with them, CAC will not require any merchant service statements, credit card receipts or invoices as they believe data will be provided by the defendants and can use that information as the basis of their data aggregation/ extrapolation. Class Action Capital works on a contingency fee basis with no upfront cost or filing charges and adheres to strict confidentiality guidelines.

While no official claim form is available and Washington State Hospital Association members do not need to sign up with a third-party service in order to participate in any monetary relief, the difficulty may be understanding what information is provided by the defendants, how that applies to your organization as well as what additional information can be provided to ensure a complete claim. No-cost assistance will be available from the court administrator and class counsel during the claim filing period. If the Court grants the settlement final approval and any appeals are resolved, the Court will approve a claim process and establish a claim deadline. Updates about the settlement can be found on the official court authorized settlement website.

Please visit Class Action Capital’s website for more information on this settlement as well as the other settlements Class Action Capital believes is relevant to your organization. Please contact Joshua Kerstein of Class Action Capital at or (914)200-0066 with any questions on the settlements and their services.


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