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Important Notice: Visa/Mastercard Class Action Suit

Last fall, the largest private antitrust class action lawsuit in US history was settled to the tune of over $5.5 billion. In the case, retailers accused Visa and Mastercard of overcharging them on fees that are paid when consumers use credit or debit cards to make purchases. The companies denied wrongdoing but agreed to the multibillion-dollar settlement. The settlement money will be distributed to eligible class members nationwide who accepted Visa and/or Mastercard payments between January 1, 2004, and January 25, 2019. Class member notifications have gone out via USPS, and claims can be filed here.

A helpful FAQ section of that site provides more information around the settlement details and next steps. If you or a client has questions about filing, qualifying as a claimant, or require further clarification, please consult with a lawyer for further information.

This material has been prepared for general, informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Should you require any such advice, please contact us directly. The information contained herein does not create, and your review or use of the information does not constitute, an accountant-client relationship.