U.S. retailers are possibly filing a class action suit accusing Visa and Mastercard and several major banks of price-fixing that could cost the credit card industry more than US $100 billion in damages. This suit is the latest in a series of 47 which began June 2005 and are now expected to be certified as a class action in the U.S. District Court for the Eastern District of New York.
Last June the first of some 47 lawsuits were filed by U.S. retailers and trade groups, accusing credit card associations and issuing banks of colluding to set artificially high interchange fees, the fees the merchants pay to credit card banks. It was the latest in a series of legal attacks on Visa and MasterCard by merchants who object to rising fees.
Register your Visa and MasterCard ComplaintIf you own a retail store and have been charged artificially high interchange fees, you may qualify for damages or remedies that may be awarded in this possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have this lawyer review your Visa and Mastercard complaint.
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