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The current status of this class action settlement is that a decision to grant final approval of the settlement is pending before the Court. With the expiration of the claims submission period, on May 30, 2008, the Settlement Administrator has commenced the process of auditing and validating claims. Please be advised that any claims postmarked or faxed after May 30, 2008 will be considered late. Also, any changes to your address or contact information should be sent in writing to the Settlement Administrator. The issuance of refund checks for valid timely claims will not commence until after the Court enters an order granting final approval of the settlement, any potential appeals are resolved, and the Settlement Administrator has validated the claims. Please continue to check this website for additional information about the settlement and claims administration as it becomes available.

In re Currency Conversion Fee Antitrust Litigation (MDL 1409)

Subject to final Court approval, a settlement has been reached in In re Foreign Currency Conversion Fee Antitrust Litigation (MDL 1409). This web site supplies information about the litigation and the settlement, and provides links to relevant documents for Members of the Settlement Classes and others interested in the settlement.

The lawsuit is about the price cardholders of Visa-, MasterCard-, or Diners Club-branded payment cards were charged to make transactions in a foreign currency, or with a foreign merchant, between February 1, 1996 and November 8, 2006. Plaintiffs challenge how the prices of credit and debit/ATM card foreign transactions were set and disclosed, including claims that Visa, MasterCard, their member banks, and Diners Club conspired to set and conceal fees, typically of 1-3% of foreign transactions, and that Visa and MasterCard inflated their base exchange rates before applying these fees. The Defendants include Visa, MasterCard, Diners Club, Bank of America, Bank One/First USA, Chase, Citibank, MBNA, HSBC/Household, and Washington Mutual/Providian. They deny the Plaintiffs' claims and say they have done nothing wrong, improper, or unlawful.

Please note that dates and other materials set forth in the Preliminary Approval Order (PDF: 76.6 KB) and the Stipulation of Settlement (PDF: 420.2 KB) (and/or in its exhibits) have been changed or revised by the Court's Order of September 24, 2007 (PDF: 1.6 MB) and are subject to further change. Please check this website or call 1-800-945-9890 for updates.

Please go to the documents page to view the documents filed with the Court for final approval of the settlement, fees and incentive awards.

Please do not contact the Court, the defendants, or the financial institution that issued your credit, debit, or ATM card.

Contact us for more information about this page.
This page was last updated on 7/18/2008 at 10:43:41 AM (EST).

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Please make sure that any claim form sent via mail is addressed to:
Settlement Administrator
P. O. Box 290
Philadelphia, PA 19105
Claim forms should NOT be submitted to any other address.