Information Concerning: In re Currency Conversion Fee Antitrust Litigation (MDL No. 1409) – Current Status
The Court granted final approval of the settlement in a Memorandum and Order, dated October 22, 2009, and, on November 4, 2009, the Court entered a Final Judgment and Order of Dismissal in this case. Eleven appeals have been filed challenging the Court's approval of the settlement. The parties are litigating these appeals before the United States Court of Appeals for the Second Circuit. Please visit the "Documents" section on this site to obtain a copy of this Memorandum and Order.
The issuance of refund checks for valid, timely claims will not commence until after the appeals are resolved (in favor of the Court-approved settlement), and the Settlement Administrator has validated the claims.
Since the expiration of the claims submission period on May 30, 2008, the Settlement Administrator has been 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 to the Currency Conversion Fee Antitrust Settlement website.
Information Concerning: Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.) – Proposed Settlement
The Court, on July 26, 2010, entered a Final Judgment for the settlements reached with four of the seven defendants – Bank of America, Capital One, Chase and HSBC – in Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.).
This lawsuit involves claims that the settling defendants Bank of America, Capital One, Chase and HSBC and the non-settling defendants Discover, Citibank and National Arbitration Forum violated federal law by conspiring, with each other and certain non-defendants, to require that their cardholders (a) take all legal disputes to arbitration rather than court and (b) give up any right to participate in class actions against these credit card companies. This case is on behalf of cardholders who are subject to arbitration clauses. Cardholders who are not subject to arbitration clauses, including any Discover cardholders who have opted out of arbitration, are not included in the case.
All settling defendants and all non-settling defendants deny that they conspired with each other or that they violated any law, and assert that they have done nothing wrong or improper.
For information about the litigation and the approved settlements, including links to relevant documents for Members of the Settlement Class and others interested in the settlements, please visit the settlement website www.arbitration.ccfsettlement.com.
The deadline for submitting an objection to the settlements was June 11, 2010. The hearing on final approval of the settlements was held on July 15, 2010.
Click here to proceed to the Arbitration Antitrust Settlement website.