Wed, December 4, 2024
[ Wed, Dec 04th 2024 ]: Bill Williamson
Bookkeeping Tips For 2025
Tue, December 3, 2024

Mastercard reaches 'agreement in principle' to settle mass UK fees case

Mastercard has reached an agreement in principle to settle a mass lawsuit in the UK, which accused the company of overcharging on fees for transactions between 1992 and 2008. The lawsuit, led by former financial ombudsman Walter Merricks, claims that around 46 million UK consumers were overcharged by about 14 billion pounds ($17.65 billion). The settlement amount was not disclosed, but it is subject to court approval. This agreement aims to resolve one of the largest class actions in UK history, potentially saving Mastercard from a lengthy legal battle. The settlement details will be presented to the Competition Appeal Tribunal for approval, with further information to be provided to the claimants.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/mastercard-reaches-agreement-principle-settle-mass-uk-fees-case-2024-12-03/ ]