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Class members can opt out of the monetary part of the settlement in addition to objecting in court. Visa, MasterCard, and issuing banks can scuttle the settlement if merchants that account for 25 percent or more of credit card spending in the United States since January 1, 2004, to the approval of the settlement. [11]
American Express Co. (2018), merchants filed a class action lawsuit against American Express and claimed that charging high fees to merchants is a violation of the Sherman Antitrust Act. [111] [112] According to the lawsuit, American Express charges significantly higher fees than other credit card providers.
An agreement between petitioners, American Express and a subsidiary, and respondents, merchants who accept American Express cards, require[d] all of their disputes to be resolved by arbitration and provide[d] that there "shall be no right or authority for any Claims to be arbitrated on a class action basis."
According to a Federal Trade Commission report, annual fees on credit cards have been increasing steadily over the years. The average annual fee in 2020 was $94 per card, according to the FTC ...
At issue is a rule that would block card issuers with more than 1 million open accounts from charging more than $8 for late fees, unless they could prove higher fees are necessary to cover their ...
Facebook recently paid 1.4 million Illinois residents $397 in 2022 as part of a class action lawsuit for facial recognition breaches through its “Tag Suggestions” feature, per CNBC.
Kaplan, Inc.#Class-action lawsuit; Keele Valley Landfill#Resident class action lawsuit; Kemper Corporation#Class-action lawsuit; Kids for cash scandal#Victim lawsuits; Kweku Hanson#Class action lawsuit against Ocwen Federal FSB; Lead contamination in Washington, D.C. drinking water#Class-action lawsuit; Long-term effects of benzodiazepines# ...
Under the finalized rule from the Consumer Financial Protection Bureau that was announced on Thursday, banks will be able to choose from three options: they may charge a flat overdraft fee of $5 ...