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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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