Payment Card Interchange Fee Settlement Class Action Lawsuit
What is this Class Action Lawsuit about?
The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard payments because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws.
The settlement creates the following Rule 23(b)(3) Settlement Class: 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 January 25, 2019 are entitled to some form of a reimbursement.
How Much Money Can I Receive?
Businesses that accepted these card payments between January 1, 2004 and January 25, 2019 are eligible for a portion of the $5.5 billion settlement. The funds will be distributed among all claimants, with the amount each business receives determined by the volume and dollar figure of transactions processed during that period, relative to the amount of claimants.
Why Choose Irongate Business Advisors?
Our attorneys collaborate closely with the legal teams at Visa and Mastercard to ensure all claims are filed accurately, with no discrepancies, and that you can get the maximum amount owed.
Your organization deserves a reliable partner—an expert who can guide you through the process and advocate on your behalf. We are dedicated to clarifying legal complexities, saving you time, and alleviating your concerns.
We designed our class action settlement services to ensure that your path to recovery is as smooth and advantageous as possible.
How Can My Business Apply?
Getting started is straightforward. Simply provide us with the necessary information, which is very minimal, and we will send you an engagement letter to initiate the process.
Next, our team will conduct due diligence to assess the eligible revenue associated with your EIN. Once we have this information, we will file and pursue a claim on your behalf based on the processed amount during that period.
Can other business owners I know qualify too?
Yes, most likely. Please click here and make a recommendation to help another business owner out or email us at support@igbusinessadvisors.com.
Fee Settlement Class Action Lawsuit
The Settlement Administrator is currently accepting claim submissions. The claim filing deadline is February 4, 2025.
Important Dates
Jan 1, 2004 to Jan 25, 2019
Class Period
July 23, 2019
Deadline to exclude yourself from the settlement has passed
July 23, 2019
Deadline to object to the settlement has passed
December 16, 2019
District Court granted final approval to settlement
March 16, 2022
Oral argument in appeal of final approval order
March 15, 2023
Second Circuit opinion issued
February 4, 2025
Claim Filing Deadline
Disclaimer
Claim forms have started being delivered and are obtainable online beginning December 1,2023. Class members are not required to sign up for a third-party service in order to benefit from any monetary relief. Free assistance is available from the Class Administrator and Class Counsel during the claims-filing period. For further details, visit the Court-approved website www.paymentcardsettlement.com.
