Notice of a $6+ billion dollar class action settlement
with merchants who have accepted Visa and
MasterCard at any time since January 1, 2004.
The December 13, 2013 decision of the Court which granted approval to the settlement is currently being appealed. Claim forms are not available at this time and will not be available until after all appeals are resolved. It is unknown how long the appeals process will take.
This is the official website for this settlement. Please do not rely upon other sites that may provide different and unauthorized information.
On December 13, 2013, the U.S. District Court for the Eastern District of New York approved a Class Settlement among merchants, Visa, MasterCard and other Defendants in a class-action lawsuit. The lawsuit claims that merchants paid excessive fees for accepting Visa and MasterCard because of an alleged conspiracy among the Defendants.
The monetary portion of the Class Settlement consists of two funds. The first is a cash fund in the amount of $6.05 billion, reduced by 25% to account for merchants who excluded themselves. Any person, business or other entity that accepted Visa or MasterCard credit or debit cards in the U.S. at any time between January 1, 2004 and November 28, 2012 may be eligible to receive a payment from this fund. The second is a fund equivalent to a portion of interchange fees attributable to certain merchants that accept Visa or MasterCard credit cards for an eight-month period which began July 29, 2013. That fund is estimated to be approximately $1.2 billion. Additionally, the Settlement requires Visa and MasterCard to modify some of their rules for merchants that accept their cards.
There are two classes in this Class Settlement:
The Court has appointed the law firms of Robins, Kaplan, Miller & Ciresi LLP, Berger & Montague, PC, and Robbins Geller Rudman & Dowd LLP to represent the Classes as Class Counsel.
Claim Forms are not yet available. This website will be updated once the Court approves a Claim Form and determines when the Claim Form needs to be sent to Class Members. The Court will also determine a deadline for Class Members to submit their Claims.
Preregistration is optional and does not affect your rights under the settlement. Merchants with multiple locations and/or franchise locations as well as single location merchants are encouraged to preregister. The information you provide will be used to assist the Class Administrator in the preparation of your Claim Form. Preregistration will be available through March 31, 2014.
To obtain more information, click on any of the following links:
Questions? 1-800-625-6440 or info@PaymentCardSettlement.com