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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 were filed challenging the Court's approval of the settlement. All of the appeals are now concluded. Ten of the eleven appeals were either withdrawn or dismissed, and one appeal was decided against the appellant after briefing and oral argument.

On October 5, 2011 the Court entered an Order authorizing the Settlement Administrator to disburse the available settlement funds. Participation in this settlement has been extraordinary, with more than 10,000,000 claims submitted. We request that you remain patient as the Settlement Administrator finalizes the procedures necessary to administer and mail checks for this enormous volume of claims. 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.

As a reminder, any claim form postmarked after May 30, 2008 will be deemed untimely and, pursuant to the Court's October 22, 2009 Order, will be disallowed. Due to the large number of claims that were submitted prior to the May 30, 2008 deadline, refund amounts have been adjusted downward (or "pro-rated").

Please continue to monitor this website for updates concerning the refund process.

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 January 31, 2012

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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.