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On October 20, 2014, the Court approved a distribution of checks concerning foreign transaction fee claims made in connection with the settlements in the two related matters In re Currency Conversion Fee Antitrust Litig. and Ross, et al. v. American Express Co., et al. This is the third-and Plaintiffs' Co-Lead Counsel anticipate final-distribution of settlement funds. (The initial distribution of checks in connection with the Currency Conversion Fee settlement was completed by mid-January 2012, and a second distribution was completed by July 2013.)

The Settlement Administrator will be issuing distribution checks to Authorized Claimants on or before December 4, 2014. Eligible Authorized Claimants for this distribution are those claimants whose claims were reduced by the largest percentage amount under the reduction methodologies used for the prior two distributions (due to the aggregate value of all claims exceeding the amount of available settlement funds). Please see the Frequently Asked Questions for information on the distribution checks.

You should note that distribution checks will be void after 90 days from the date on the check. If you receive a settlement check, please promptly deposit it before the check's 90-day expiration date.

If you experience any problems associated with your settlement check, please contact the Settlement Administrator or Co-Lead Class Counsel. To assist such inquiries, claimants should provide as much of the following information as possible: name, current address (and the address used when the claim was submitted, if different), current contact information (e.g., telephone or email), Claim number or Refund ID number, and the type of claim submitted.

Please continue to monitor this website for updates concerning the refund process. If you have changed your address, you should send any updated information to the Settlement Administrator.

In re Currency Conversion Fee Antitrust Litigation (MDL 1409)

A Court-approved settlement has been reached in In re Foreign Currency Conversion Fee Antitrust Litigation (MDL 1409). This website supplies information about the litigation and the settlement, and provides links to relevant documents for Members of the Settlement Classes and others interested in the settlement.

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.

Please go to the frequently asked questions (FAQs) section to obtain information concerning the current status of the settlement and refunds for valid timely claims in In re Currency Conversion Antitrust Litigation (MDL 1409), and for information concerning the proposed settlement in Ross, et al. v. American Express Co., et al., No. 04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.) click here.

Please go to the documents page to view the important documents pertaining to the settlement in In re Currency Conversion Antitrust Litigation (MDL 1409), including the Stipulation of Settlement and the Final Judgment and Order of Dismissal and to view the important documents pertaining to the proposed settlement in Ross, et al. v. American Express Co., et al., No. 04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.), including the Stipulation and Agreement of Settlement and the Class Notice.

Please do not contact the Court, the defendants, or the financial institution that issued your credit, debit, or ATM card.

Contact us for more information about this page.
Current status last updated October 30, 2014

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Please make sure that any claim form sent via mail is addressed to:
Settlement Administrator
P. O. Box 290
Philadelphia, PA 19105
Claim forms should NOT be submitted to any other address.