{"id":5199,"date":"2019-02-28T08:23:51","date_gmt":"2019-02-28T13:23:51","guid":{"rendered":"https:\/\/3dmerchant.com\/blog\/?p=5199"},"modified":"2021-12-03T03:23:10","modified_gmt":"2021-12-03T08:23:10","slug":"u-s-district-court-approves-multi-billion-settlement-between-merchants-and-credit-card-companies","status":"publish","type":"post","link":"https:\/\/3dmerchant.com\/blog\/merchant-processing-industry-news\/u-s-district-court-approves-multi-billion-settlement-between-merchants-and-credit-card-companies","title":{"rendered":"U.S. District Court approves multi-billion settlement between merchants and credit card companies"},"content":{"rendered":"\n

The U.S. District Court for the Eastern District of New York has given preliminary approval to a settlement reached in a lawsuit between merchants and credit card companies. Merchants alleged Visa and Mastercard, separately, and together with certain banks, violated antitrust laws and caused merchants to pay excessive fees for accepting Visa and Mastercard credit and debit cards. Both groups agreed to the settlement.<\/p>\n\n\n\n

The original settlement, worth up to $7.25 billion for merchants who accepted payments from 2004 to 2012, was vacated by the Second Circuit. The new settlement includes all merchants who accepted Visa or MasterCard branded debit or credit cards from January 2004 to January 25, 2019<\/strong>, the date the agreement was reached. <\/p>\n\n\n\n

Unless merchants want to opt-out by the July 25, 2019 deadline, there’s nothing to do right now. It’s too early to file a claim and merchants will automatically be notified later. <\/strong><\/p>\n\n\n\n

\"visa
Paymentcardsettlement.com is the official site for merchant information and future claim registration.<\/figcaption><\/figure>\n\n\n\n


<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. District Court for the Eastern District of New York has given preliminary approval to a settlement reached in a lawsuit between merchants and credit card companies. Merchants alleged Visa and Mastercard, separately, and together with certain banks, violated … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":5200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[78,40,15],"class_list":["post-5199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-merchant-processing-industry-news","tag-mastercard","tag-merchant-account","tag-visa"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t