Frequently Asked Questions
Ross, et al. v. American Express Co., et al., No. 04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.)

To view FAQs from the related matter, In re Currency Conversion Fee Antitrust Litigation (MDL 1409), please click here.

Spanish Version: Para leer las preguntas con frecuencia hechas en español, chascar aquí.

The Lawsuit and Settlement: On April 30, 2012, the Court granted final approval of the parties' agreement to settle the foreign transaction fee claims in the lawsuit, Ross, et al. v. American Express Co., et al. ("Ross v. American Express"). This website supplies information about the litigation and the settlement, and provides links to relevant documents for members of the FX Damages Class and others interested in the settlement.

Ross v. American Express is about the prices that cardholders of certain Visa, MasterCard and Diners Club credit and charge cards were charged to make transactions denominated in a foreign currency or with a foreign merchant, including purchases, cash advances, cash withdrawals, and internet transactions. Ross v. American Express does not involve American Express credit or charge cards; only certain Visa, MasterCard and/or Diners Club credit and/or charge cards are covered.

Plaintiffs in this lawsuit claim that American Express conspired in violation of the antitrust laws with certain banks that issue Visa, MasterCard and/or Diners Club credit and charge cards to set and conceal fees on foreign transactions. The banks are Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. Plaintiffs seek money damages and restitution for the FX Damages Class. American Express denies the Plaintiffs' claims and says it has done nothing wrong, improper, or unlawful.

Plaintiffs also claim that American Express conspired with the banks listed above to add arbitration clauses in connection with credit or charge cards issued by those banks. The settlement does not concern the arbitration clause claim, which seeks injunctive relief only. A separate class has been certified with respect to that arbitration claim, and your decision to remain a member of the FX Damages Class or to opt-out will not affect any rights you may have concerning the arbitration clause claim.

Status: On April 30, 2012, the Court entered an Order and Final Judgment approving the settlement. The Court also entered a final judgment approving the Allocation Plan concerning the distribution of the net proceeds of the settlement funds to authorized claimants. You may access copies of these judgments, as well as the Settlement Agreement, the Allocation Plan and other important documents concerning the lawsuit, from the "Documents" webpage (click here). This website contains important information concerning the settlement and membership in the FX Damages Class. Please check this website for important updates.

Frequently Asked Questions ("FAQs"): This webpage contains information concerning the lawsuit and the settlement in the form of responses to frequently asked questions (or "FAQs"). These FAQs will be continuously updated as the settlement progresses from the approval phase through distribution of the net settlement proceeds to members of the FX Damages Class.

• What is this lawsuit about?
• What is the Plaintiffs' position in the lawsuit?
• Who is the Defendant?
• What is the Defendant's position in the lawsuit?
• Who is affected by this settlement?
• What is the settlement?
• Do I need to hire a lawyer?
• I received a notice; am I being sued?
• I did not receive a notice. Does that mean I am not a member of the FX Damages Class?
• Am I a member of the FX Damages Class?
• How can I get a copy of the notice?
• How will the settlement affect my rights if it is approved?
• What are my options?

• What if my address or other information changes?
• When will I receive my settlement claim payment from the Ross v. American Express settlement?
• How will my Ross v. American Express settlement claim payment be paid?
• What do I need to do to ask for a Ross v. American Express settlement claim payment?
• When will the Court consider approving the Ross v. American Express settlement?

• How will the attorneys be paid?
• Will the class representatives be paid?

• How can I get more information?

• What is this lawsuit about?(top)
  In this case (Ross, et al. v. American Express Co., et al., No. 04-5732 (S.D.N.Y.) (WHP) ("Ross v. American Express")), Plaintiffs challenge the prices that cardholders of certain Visa, MasterCard and Diners Club credit and charge cards were charged to make transactions denominated in a foreign currency or with a foreign merchant, including purchases, cash advances, cash withdrawals, and internet transactions. Ross v. American Express does not involve American Express credit or charge cards; only certain Visa, MasterCard and/or Diners Club credit and/or charge cards are covered.
  
  Plaintiffs in this lawsuit claim that American Express conspired in violation of the antitrust laws with certain banks that issue Visa, MasterCard and/or Diners Club credit and charge cards to set and conceal fees on foreign transactions. The banks are Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. Plaintiffs seek money damages and restitution for the FX Damages Class. American Express denies the Plaintiffs' claims and says it has done nothing wrong, improper, or unlawful.
  
  Plaintiffs also claim that American Express conspired with the banks listed above to add arbitration clauses in connection with credit or charge cards issued by those banks. The settlement does not concern the arbitration clause claim, which seeks injunctive relief only. A separate class has been certified with respect to that arbitration claim, and your decision to remain a member of the FX Damages Class or to opt-out, will not affect any rights you may have concerning the arbitration clause claim.
  
  Also, by way of additional background, this lawsuit is one of three related actions in MDL 1409. The first MDL 1409 lawsuit, In re Currency Conversion Fee Antitrust Litigation ("CCF I"), also concerned foreign transaction fees. CCF I has settled and the Court has authorized the distribution of the settlement funds in CCF I to valid, timely filed claims. (Please click here for a copy of the Order directing distribution of the CCF I settlement fund.) For information about the third MDL 1409 lawsuit, Ross, et al. v. Bank of America, N.A. (USA), et al., No. 05-7116, (S.D.N.Y.) (WHP), please click here.
  
  This website is intended to provide information responsive to most questions. Details are provided below regarding who you should contact if you have questions about this case which are not answered here. Please do not contact the Court, American Express, or your bank with questions about this case.
• What is the Plaintiffs' position in the lawsuit?(top)
  Plaintiffs in this lawsuit claim that American Express conspired in violation of the antitrust laws with certain banks that issue Visa, MasterCard and/or Diners Club credit and charge cards to set and conceal fees on foreign transactions. For more detailed information about the Plaintiffs' claims, please review the First Amended Class Action Complaint and the Court's Order Denying Defendants' Motion for Summary Judgment, dated March 29, 2011.
  
  The banks are Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian.
  
  Plaintiffs also claim that American Express conspired with the banks listed above to add arbitration clauses in connection with credit or charge cards issued by those banks.
  
  Plaintiffs' claims do not involve American Express credit or charge cards; only certain Visa, MasterCard and/or Diners Club credit and/or charge cards are covered.
  
  The parties have agreed to settle the foreign transaction fee claim against American Express; the lawsuit will continue with respect to the arbitration clause claim.
• Who is the Defendant?(top)
  The defendant in Ross v. American Express lawsuit is American Express. The specific corporate entities that are named as defendants in the First Amended Class Action Complaint are: American Express Company, American Express Travel Related Services, Inc., and American Express Centurion Bank.
  
  Plaintiffs claim that American Express conspired with the following banks: Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. These banks issue Visa-, MasterCard- and/or Diners Club-branded credit and charge cards.
• What is the Defendant's position in the lawsuit?(top)
  American Express denies the Plaintiffs' claims, believes that they are unsupported by the facts and the applicable law and states that it has done nothing wrong, improper or unlawful. American Express has chosen to settle the foreign transaction claims in this case only to avoid the inconvenience, expense and uncertainty of litigation.
• Who is affected by this settlement?(top)
  On January  22, 2010, the Court entered an Order and Memorandum certifying an FX Damages Class in Ross v. American Express. Only members of the FX Damages Class may participate in the proposed Ross v. American Express settlement.
  
  You are a member of the FX Damages Class if:

  • You used a Visa, MasterCard and/or a Diners Club credit or charge card between July 22, 2000 and November 8, 2006, and were assessed a fee or surcharge for using your card to purchase goods and/or services priced in foreign currencies or in foreign countries, and
  • The card you used was issued by one of the following banks: Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA or Washington Mutual/Providian, and
  • You submitted a claim as part of the settlement in In re Currency Conversion Fee Antitrust Litig. ("CCF I"), and your claim was not rejected by the Settlement Administrator.

  If the claim you submitted in CCF I was rejected because you missed the claim submission deadline in that settlement, you may still be a member of the FX Damages Class in the Ross v. American Express lawsuit, provided you submitted your CCF I claim no later than October 31, 2011 and the Settlement Administrator determines that the claim is valid.
  
  Important: Please retain all records you possess demonstrating that you are a member of the FX Damages Class and all records showing that you paid fees for using your credit or charge card to purchase goods and/or services priced in foreign currencies or from merchants in foreign countries.
• What is the settlement?(top)
  American Express has created a settlement fund of $49,500,000 to pay valid claims, attorneys' fees and expenses, any service awards to class representatives ordered by the Court, and the costs of administering the settlement and notice. For more detailed information about the settlement, please review the Settlement Agreement.
• Do I need to hire a lawyer?(top)
  The Court has appointed the lawyers listed below to represent class members. You do not have to hire your own lawyer. But you can if you want to, at your own cost.

  Merrill G. Davidoff
  Charles P. Goodwin
  David A. Langer
  Berger & Montague, P.C.
  1622 Locust Street
  Philadelphia, PA 19103
• I received a notice; am I being sued?(top)
  No.
• I did not receive a notice. Does that mean I am not a member of the FX Damages Class?(top)
  Not necessarily. Please click here for information concerning who is affected by the settlement.
• Am I a member of the FX Damages Class?(top)
  You are a member of the FX Damages Class if:

  • You used a Visa, MasterCard and/or a Diners Club credit or charge card between July 22, 2000 and November 8, 2006, and were assessed a fee or surcharge for using your card to purchase goods and/or services priced in foreign currencies or in foreign countries, and
  • The card you used was issued by one of the following banks: Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA or Washington Mutual/Providian, and
  • You submitted a claim as part of the settlement in In re Currency Conversion Fee Antitrust Litig. ("CCF I"), and your claim was not rejected by the Settlement Administrator.

  If the claim you submitted in CCF I was rejected because you missed the claim submission deadline in that settlement, you may still be a member of the FX Damages Class in the Ross v. American Express lawsuit, provided you submitted your CCF I claim no later than October 31, 2011 and the Settlement Administrator determines that the claim is valid.
  
  Only members of the FX Damages Class may participate in the settlement in Ross v. American Express.
  
  Important: Please retain all records you possess demonstrating that you are a member of the FX Damages Class and all records showing that you paid fees for using your credit or charge card to purchase goods and/or services priced in foreign currencies or from merchants in foreign countries.
• How can I get a copy of the notice?(top)
  You may obtain a copy of the notice by clicking on the following link or by mailing your request to the Settlement Administrator at P.O. Box 570, Philadelphia, PA 19105-0570.
• How will the settlement affect my rights if it is approved?(top)
  If the settlement receives final court approval and you are a member of the FX Damages Class, you will be bound by the settlement. If you are a member of the FX Damages Class and did not opt-out, upon final court approval, you will be bound by the settlement and will release any and all rights, duties, obligations, claims (including those that the Representative Plaintiffs or any FX Damages Class Member does not know or suspect to exist in his, her or its favor at the time of the release which, if known by him, her or it, might have affected his, her or its settlement with and release of the Released Persons, or might have affected his, her or its decision not to object to this Settlement), actions, causes of action or liabilities, whether arising under local, state, or federal law, whether by statute, contract, common law or equity, whether known or unknown, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, actual or contingent, liquidated or unliquidated, as of the date of Preliminary Approval: (1) that are, were, or could have arisen out of or been related in any way to any Credit Card Foreign Transaction Fees or Base Exchange Amounts, or the disclosure or pricing thereof, up to the date of Preliminary Approval, including, without limitation, any and all claims that are based in whole or in part on any act, agreement, conduct or omission up to the date of Preliminary Approval that has or had, and/or allegedly has or had, the purpose or effect of fixing, inflating, concealing, or inadequately disclosing the nature, pricing, or any other aspect of any Credit Card Foreign Transaction (including, but not limited to, Credit Card Foreign Transaction Fees, Base Exchange Amounts, and/or any component of either); or (2) that arise out of or are related in any way to any or all of the acts, omissions, facts, matters, transactions, or occurrences that were directly or indirectly alleged, asserted, described, set forth or referred to in Count I of this Matter including, but not limited to, claims for alleged violations of Section 1 of the Sherman Antitrust Act, state consumer credit or consumer protection statutes, common law prohibiting unfair or deceptive trade practices, breach of contract, fraud, and/or misrepresentation and equity prohibiting unjust enrichment or requiring restitution or disgorgement. (Please see the Stipulation and Agreement of Settlement for definitions of the capitalized terms above.)
  
  FX Damages Class members do not release Count II of the First Amended Class Action Complaint in this Matter, which alleges that Defendants violated Sherman Antitrust Act § 1 by participating in a conspiracy with certain banks that issue Visa-, MasterCard- and Diners Club-branded credit cards to impose arbitration clauses in connection with credit cards issued by those banks, and through which Plaintiffs will seek injunctive relief only. Expressly exempt from this release are the claims brought in the matter pending bearing the caption Ross, et al. v. Bank of America, N.A. (USA), et al., No. 05-CV-7116 (S.D.N.Y.) (WHP), in which Plaintiffs allege that the defendants violated Sherman Antitrust Act § 1 by participating in a conspiracy with certain banks that issue Visa-, MasterCard- and Diners Club-branded credit cards to impose arbitration clauses in connection with credit cards issued by those banks, and through which Plaintiffs will seek injunctive relief only. (Please click here for more information about this lawsuit).
  
  For more information about the facts that were asserted in the Ross v. American Express litigation, please see the First Amended Class Action Complaint and other litigation materials available on this website or by mailing your request to the Settlement Administrator at P.O. Box 570, Philadelphia, PA 19105-0570.
• What are my options?(top)
  Members of the FX Damages Class were provided an opportunity to request to be excluded from membership in the FX Damages Class, or, if they remained a member of the FX Damages Class, to submit an objection to the settlement.
  
  The deadline to request exclusion from the FX Damages Class was March 2, 2012. The deadline to submit an objection to the settlement was April 6, 2012.
  
  Important: As a reminder to members of the FX Damages Class, please retain all records you possess demonstrating that you are a member of the FX Damages Class and all records showing that you paid fees for using your credit or charge card to purchase goods and/or services priced in foreign currencies or from merchants in foreign countries.

• What if my address or other information changes?(top)
  If your address or other information changes, please mail a letter to the Settlement Administrator explaining the information that needs to be changed. The mailing address is:

  Settlement Administrator
  P.O. Box 570
  Philadelphia, PA 19105-0507
• When will I receive my settlement claim payment from the Ross v. American Express settlement?(top)
  Subject to final approval of the settlement and any other orders of the Court, settlement claim payments will be distributed at a later date, pursuant to the Court-approved "Allocation Plan" (click here to obtain a copy of the plan).
  
  Updated information concerning any distribution of settlement claim payments, including the timing and manner of the distribution, will be posted on this website.
  
  For information concerning refunds in the In re Currency Conversion Fee Antitrust Litigation ("CCF I") settlement, please click here.
• How will my Ross v. American Express settlement claim payment be paid?(top)
  Eligible settlement claim payments will be paid by check to the primary cardholder on the account.
• What do I need to do to ask for a Ross v. American Express settlement claim payment?(top)
  You are not required to do anything at this time to be eligible to receive a Ross v. American Express settlement claim payment provided you are a member of the FX Damages Class. To learn whether you are a member of the FX Damages Class, please click here.
  
  Important: Please retain all records you possess demonstrating that you are a member of the FX Damages Class and all records showing that you paid fees for using your credit or charge card to purchase goods and/or services priced in foreign currencies or from merchants in foreign countries.
• When will the Court consider approving the Ross v. American Express settlement?(top)
  The Court held a fairness hearing concerning the settlement on April 27, 2012, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 11D, New York, NY 10007.
  
  On April 30, 2012, the Court entered a final judgment approving the settlement and a final judgment approving the Allocation Plan. click here to access the website's "Documents" page to obtain copies of these final judgments, as well as the Settlement Agreement, the Allocation Plan and other important documents concerning the settlement and the litigation. The Court has not yet entered a final judgment concerning class counsel's requests for attorneys' fees and expenses, or for awards for the class representatives.
  
  Please check this website (or call 1-888-567-5450) for updates concerning the settlement.

• How will the attorneys be paid?(top)
  The attorneys' for the Plaintiffs have requested an award of attorneys' fees in the amount of 25% of the Ross v. American Express settlement fund for attorneys' fees for investigating the facts, litigating and resolving the lawsuit. They also requested reimbursement of their expenses in the amount of $417,461 to be paid from the settlement fund. The Court has not yet entered a final judgment concerning these requests.
• Will the class representatives be paid?(top)
  The Plaintiffs asked the Court for $70,000 in service awards from the settlement fund on behalf of the two class representatives for their efforts on behalf of the class. The Court has not yet entered a final judgment concerning this request.

• How can I get more information?(top)
  To see the Settlement Agreement, Court orders, and other documents about this lawsuit, click here. Or, you may mail your request to the Settlement Administrator at P.O. Box 570, Philadelphia, PA 19105-0570.
  
  You can also go to the Courthouse during regular business hours to see court documents. The Courthouse address is: Clerk of the Court, United States Courthouse, 500 Pearl Street, New York, New York 10007-1581.
  
  Or mail your questions to the following attorneys for the class:

  Merrill G. Davidoff
  Charles P. Goodwin
  David A. Langer
  Berger & Montague, P.C.
  1622 Locust Street
  Philadelphia, PA 19103

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Current status last updated May 16, 2012

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