Courts Approve Credit Card Swipe Fee Settlement
(Jan. 2, 2014) On Friday December 13, U.S. District Court Judge John Gleeson approved the proposed $7.25 billion class-action settlement in the underlying credit card swipe fees case between merchants and Visa/MasterCard. The case stems from complaints filed in 2005 by various organizations, including NGA, against Visa, MasterCard, and some of the nation’s largest banks alleging they violated antitrust laws by fixing the prices of credit card interchange fees, otherwise known as “swipe fees,” and setting anti-completive rules. It is unclear at this time where things stand moving forward, as the settlement is subject to an appeal, and one has already been filed. Additionally, the appeal process could likely stretch through 2014 and possibly into 2015. You can contact Class counsel’s website for more information. As a reminder it is not necessary at this time to sign up for legal counsel to collect the settlement money. We will continue to keep you updated with any new information as it comes out.
Courts Approve Credit Card Swipe Fee Settlement
(December 19, 2013) On Friday December 13, U.S. District Court Judge John Gleeson approved the proposed $7.25 billion class-action settlement in the underlying credit card swipe fees case between merchants and Visa/MasterCard. The case stems from complaints filed in 2005 by various organizations, including NGA, against Visa, MasterCard, and some of the nation’s largest banks alleging they violated antitrust laws by fixing the prices of credit card interchange fees, otherwise known as “swipe fees,” and setting anti-completive rules. It is unclear at this time where things stand moving forward, as the settlement is subject to an appeal, and one has already been filed. Additionally, the appeal process could likely stretch through 2014 and possibly into 2015. We will continue to keep you updated with any new information as it comes out.
Proposed Credit Card Settlement: What Are Your Options?
(March 7, 2013) This coming Monday, March 11 at 11am, NGA will be hosting a webinar detailing and explaining your potential options as it relates to the proposed Credit Card Swipe Fees settlement. We encourage everyone to listen in and weigh your options as it relates to this important decision. Register today or if get more information on the proposed settlement and your options.