Foreign Fees

Miami, FL: (Dec-11-07) A national class action lawsuit was filed against Visa, MasterCard and Diners Club cards, alleging that the card companies failed to adequately notify customers about the fees associated with using their cards in a foreign country. The suit stated that apart from not being notified about the fee, the cardholder remained in the dark because they weren't disclosed in the billing statement. As part of a settlement reached, the credit card companies have agreed to a $336 million settlement, which is said to benefit about 30 million globe-trotters. Sources stated that the case was settled in July 2007 but still awaits final approval in the Spring from US District Judge William Pauley II of New York. The card companies denied any wrongdoing and said the fees were properly disclosed. Visa's spokesperson made a two-sentence statement that cardholders will receive claim forms and the case is before a special administrator.


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