1:05-md-01720 US District Court, Eastern District of New York
Overview
Plaintiffs allege that, between January 1, 2004 and the January 25, 2019, Defendants Visa, MasterCard and several banks including Bank of America, JPMorgan Chase and Citigroup conspired to artificially inflate the prices of interchange fees that merchants’ acquiring banks pay to customers’ issuing banks in a credit or debit card transaction. Since the interchange fees are inflated, the discount fees merchants pay to accept card payments are in turn artificially high, and various rules prevent merchants from challenging the inflated fees.
What is Interchange?
Interchange is a fee paid by a merchant’s bank (also known as the acquiring bank) to the cardholder’s bank (the issuing bank) to compensate the issuing bank for a portion of the risks and costs it incurs.
Class
The eligible class consists of all persons, businesses and other entities that accepted Visa and/or MasterCard credit or debit cards in the United States from January 1, 2004 to January 25, 2019.
| Pending Settlements: | Filing Deadline: |
|---|---|
| $5.54 to $6.24 Billion | Deadline has passed |
The filing deadline to submit claims for the Payment Card Interchange Settlement passed on February 4, 2025. SRG is no longer accepting new claims. Any changes to existing claims will have to be approved by the claims administrator. More information is available on the Court-approved website www.paymentcardsettlement.com.
SRG is not affiliated with the official claims administrator, class counsel or any party in the case. SRG is a third party service that can be hired to file and track claims. We specialize in helping companies file claims to obtain their share of settlement money from class action lawsuits once a settlement has been reached. Our services are voluntary and are not required to file a claim.