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Payment Card Interchange Fee and Merchant Discount Antitrust Litigation

Did you or your company accept any Visa-Branded Cards and/or MasterCard Branded Cards in the United States at any time from January 1, 2004 to January 25, 2019?

You may be eligible to receive a substantial payment from a settlement.

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Settlement Total
$5,540,000,000
Settlement Total
Eligible Purchase Dates
1/1/04 - through 1/25/19
Eligible Purchase Dates
Deadline

0

days
Deadline

Background Information

Plaintiffs claim Defendants violated the law because they collectively fixed and set interchange fees which caused merchants to pay supra-competitive interchange fees when accepting Visa-Branded Cards and/or MasterCard Branded Cards in the United States. Plaintiffs also allege Defendants violated the law by collectively imposing and enforcing rules that limited merchants from steering their customers to other payment methods.  Settlement was up to $6,240,000,000 but due to certain opt outs and dismissed plaintiffs, the overall settlement decreased to $5,540,000,000.

Settlement Information


Filing Deadline: May 31, 2024

Proposed Settlement Classes+

All persons, businesses, and other entities that have accepted any Visa-Branded Cards and/or MasterCard Branded Cards in the United States at any time from January 1, 2004 to the Settlement Preliminary Approval Date (date TBD). Excluded from this Settlement Class are (a) the Dismissed Plaintiffs, (b) the United States government, (c) the named Defendants in this action or their directors, officers, or members of their families, or (d) financial institutions that have issued Visa-Branded Cards or Mastercard-Branded Cards or acquired Visa-Branded Card transactions or Mastercard-Branded Card transactions at any time from January 1, 2004 to January 25, 2019.

Defendants+

  • Network Defendants: “Visa”: Visa U.S.A. Inc., Visa International Service Association, and Visa Inc.; “Mastercard”: Mastercard International Incorporated and Mastercard Incorporated.


  • Bank Defendants: Bank of America, N.A.; BA Merchant Services LLC (formerly known as National Processing, Inc.); Bank of America Corporation; Barclays Bank plc; Barclays Delaware Holdings, LLC (formerly known as Juniper Financial Corporation); Barclays Bank Delaware (formerly known as Juniper Bank); Barclays Financial Corp.; Capital One Bank (USA), N.A.; Capital One F.S.B.; Capital One Financial Corporation; Chase Bank USA, N.A. (and as successor to Chase Manhattan Bank USA, N.A. and Bank One, Delaware, N.A.); Paymentech, LLC (and as successor to Chase Paymentech Solutions, LLC); JPMorgan Chase & Co. (and as successor to Bank One Corporation); JPMorgan Chase Bank, N.A. (and as successor to Washington Mutual Bank); Citibank, N.A.; Citigroup Inc.; Citicorp; Fifth Third Bancorp; First National Bank of Omaha; HSBC Finance Corporation; HSBC Bank USA, N.A.; HSBC North America Holdings Inc.; HSBC Holdings plc; HSBC Bank plc; The PNC Financial Services Group, Inc. (and as acquirer of National City Corporation); National City Corporation; National City Bank of Kentucky; SunTrust Banks, Inc.; SunTrust Bank; Texas Independent Bancshares, Inc.; and Wells Fargo & Company (and as successor to Wachovia Corporation).
     

Settlements+

As much as $5.54 billion per court documents filed

Disclaimer

Payment Card Interchange Fee Settlement Disclaimer: Claim forms are available from the Class Administrator online effective December 1, 2023. Class members are not required to sign up with any third-party service in order to participate in any monetary relief, but may instead file their claim directly with the Class Administrator. The claim form will inform most class members of their actual or estimated interchange fees on which it is proposed their claims will be paid. You may accept or dispute this estimate with the opportunity to submit additional information. No-cost assistance will be available from the Class Administrator and Class Counsel during the claims filing period. For additional information, class members may visit www.paymentcardsettlement.com, the Court approved website for this case.

 

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