Visa/MasterCard Class Action Settlement - What is this case all about?
What does this mean for you?
- The original court case was between a group of merchants (on one hand) and Visa, MasterCard, and issuing banks (on the other hand) about unfair practices related to interchange fees.
- Interchange is the fee collected by banks every time a merchant accepts payment from a customer using a credit card. We don’t have to tell you how high the fees have gotten.
- The lack of competition meant steadily rising fees and no alternatives. Finally, merchants fought back and sued.
- Both parties originally agreed to settle for more than $7 billion dollars. After lengthy discussions and several separate agreements with large Merchants, the Judge preliminarily approved the allocation plan.
What are my options?
File and calculate your own claim by working with the appointed settlement administrator. For contact details, and more information on the no cost assistance, you can visit www.paymentcardsettlement.com.
*Claim forms are not yet available; there is no necessity to use a third-party provider but is your choice.
Retain Brownstone Recovery to work on your behalf and help you recover your share of the settlement. Our areas of expertise are interchange fees and class action settlements. We will focus on your claim while you focus on your business.
Simply complete the short enrollment form to confirm your participation in the settlement and to take advantage of this discount.
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