Anesthesia Practices Can File Claims for Repayment under MasterCard and Visa Class Action Settlement
Anesthesia practices that
accept Visa and MasterCard payments are among the “merchants” that may
be able to collect a portion of the fees paid to the card issuers under
the proposed settlement in the Payment Card Interchange Fee and Merchant
Discount Antitrust Litigation pending in federal District Court in New
York.
The class action lawsuit
alleges that merchants paid excessive fees for accepting Visa and
MasterCard because of an alleged antitrust conspiracy among the
Defendant. According to the complaint, Visa, MasterCard and more than a
dozen of the nation's largest credit card issuers conspired to restrain
competition by illegally charging higher interchange fees for credit
card transactions.
The court granted
preliminary approval to the proposed settlement agreement in November,
2012. On April 11, 2013, the plaintiffs filed for final court approval
of the settlement and for attorneys’ fees and expenses. The court has
scheduled a hearing for September 12, 2013 to...
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