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Credit Card Foreign Transaction Fee Lawsuit


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20 replies to this topic

#1
sarinne

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I received a booklet about this in the mail yesterday. I wasn't even aware of it.

http://ccfsettlement.com/

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.

You either get $25 or submit another form detailing how much you spent. Not sure how much you'd get from doing that.

anyone else receive a form? you can also print a form online from http://ccfsettlement.com/
If you're bored, PM me a hello. =)



#2
threeuncle

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I got it too. I simply choose option 1 for $25. This can be submitted online. Pretty handy IMHO.

#3
ungsunghero

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Cool! This covers transactions made with a foreign merchant too! I bought a ton of books overseas for college during this time period.

#4
wtf

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nice, thanks. :)

#5
cron

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Refund Option 2

Refund Option 2 is a Total Estimation Refund that is based on typical spending during travel and answers to the few questions listed on the claim form. This option is recommended if you traveled outside the U. S. for more than one week or had foreign transactions of more than $2,500 using your eligible cards during the class period.

If you elect to file a Refund Option 2 claim form, you must complete and send to the Settlement Administrator a Refund Option 2 claim form. The Settlement Administrator will determine the appropriate refund amount based on the information you provide in your Refund Option 2 claim form. Please note that a refund for a Refund Option 2 claim form will not be less than the amount distributed to claimants who file the Refund Option 1 claim form.

Option 2 seems relatively easy too.

I'm guessing you should have backup documentation to substantiate your claim for this one. Even though you don't need to send any in. At least something that shows you traveled outside the country for the length of time you declared.

#6
BlueTDimly

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Hmm, I'll have to look. I was overseas for a week back in 2000, but I don't think I spent more than $2,500.
Who's to say / I can't do everything, well I can try... - JJ

#7
efreeman1980

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I got one too... I am mailing in the Option 1 refund.

#8
carloscai

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Do they send this to everyone with a credit card mentioned above, or just those who have forgein transactions?
I will miss you, HarleyD.

#9
shm

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Probably just those who had a foreign transaction in the past xxx years from any of your current cards are still active. My mom had had the same card for a few years but no foreign transactions and did not get a mailing. BTW, there is a choice for "did not get mailing" in the online form, if you agree to the terms stated.

#10
marsel

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Great work! I'm going to look into it myself!

#11
carloscai

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i am filling up the request tomorrow.
I will miss you, HarleyD.

#12
sarinne

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^ the deadline is may 30.
If you're bored, PM me a hello. =)

#13
cron

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Bump....3 days left

#14
cron

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today is the last day....not sure what time zone it ends on....

#15
wtf

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Man, I had completely forgotten about this. Just got my claim in online.

#16
cron

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wonder if we'll ever get anything from this?

#17
wtf

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nothing here.

#18
sanscu

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Filled mine out a long time ago but no $25 yet either.

#19
WingsOverVA

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From the Class Action WEBSITE:

Current Status - In re Currency Conversion Fee Antitrust Litigation (MDL 1409)
The current status of this class action settlement is that a decision to grant final approval of the settlement is pending before the Court. 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. At this time, the Court has not yet issued a final approval order. A notice will be posted to this website once the Court issues an order.

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.

Please continue to check this website for additional information about the settlement and claims administration as it becomes available.

If you have a question you would like to send to the Settlement Administrator, please use the Contact Us page of this website, or write to the Settlement Administrator at P. O. Box 290, Philadelphia, PA 19105-0290. The telephone service, 1-800-945-9890, is for information purposes only and a live operator is not available.

Click Here to Proceed

Current status last updated February 24, 2009.


To Frank Lynn Sikes 1958-2008

#20
JTTech

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I also filed awhile ago. I actually forgot about the whole thing until reading this thread today. But same here...no $25 yet.

#21
cron

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four years later... and i think i actually got a check for this today for $18.04 -lol-




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