Visa & Mastercard have settled a class action lawsuit of more than $5 billion. Click here to learn how to claim your share of the settlement. Deadline May 31st 2024.
Visa/MasterCard Class Action Settlement
If you accepted Visa or MasterCard at any point between January 1, 2004, and January 25, 2019, you are part of a class action lawsuit that resulted in a settlement of more than $5 billion. The claim filing deadline is May 31, 2024.
You may have heard about the recent Visa/MasterCard class action settlement in regards to Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, but you are unaware of some of the specifics. COCARD is here to help!
If you accepted Visa or MasterCard at any time from January 1, 2004 to January 25, 2019, you are part of a $5.54 – $6.24 billion settlement. COCARD values you as a customer and we recognize that you work hard for your money. As your trusted service provider, we have researched solutions and have partnered with Brownstone Recovery. They have extensive expertise in both class action settlements and interchange fees. They provide a simple process and are with you along the way to ensure funds are recovered. There are no upfront costs and will only retain 25% after funds are recovered.
We wish to remind you that you can file on your own and no-cost assistance is available at www.paymentcardsettlement.com.
What are your options?
OPTION 1
Do Nothing
Do nothing and do not receive your share of the settlement.
Note: If you want to participate, you must take action in this class action to receive compensation.
OPTION 2
Do It All Yourself
File your own claim yourself.
For more information, contact details and no-cost assistance, you can visit www.paymentcardsettlement.com.
Claim forms started mailing on December 1, 2023 and are also available on line.
The claim filing deadline is May 31, 2024
OPTION 3
We Do It All For You
Retain Brownstone Recovery through CoCard to work on your behalf and help you recover your share of the settlement.
There is no cost for the service unless the recovery is made. For a 25% contingency fee, we will file your claim, represent you throughout the process and keep you informed.
We will focus on your claim while you focus on your business.
Click the “Claim Form” button below to get started.
Brownstone Recovery experts have decades of experience in settlement recovery, with special expertise in cases involving payment and interchange. Brownstone Recovery is with you every step of the way and provide updates on the settlement as it progresses. From start to finish, we keep you informed of the status of your claim.
What is this case all about?
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The court case was between a group of merchants (on one side) and Visa, MasterCard, and issuing banks (on the other side) about unfair practices related to interchange fees.
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Interchange is the fee collected by banks every time a merchant accepts payment from a customer using a credit card. We don’t have to tell you how high the fees have gotten.
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The lack of competition meant steadily rising fees and no alternatives. Finally, merchants fought back and sued.
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Both parties originally agreed to settle for more than $5 billion dollars.
Current Status
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As of December 1, 2023, the official claim form for the VISA/MasterCard Class Action Settlement is now available.
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With the formal approval of the VISA/MasterCard Class Action Settlement in September 2023, the process of claiming your share of the settlement is materially progressing.
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The current enrollment period is from December 1, 2023, to May 31, 2024
Frequently Asked Questions
What is the Visa/Mastercard Interchange Fee
Settlement Recovery?
A lawsuit was filed that claimed merchants paid
excessive interchange or swipe fees for accepting Visa and Mastercard payments because of an alleged conspiracy among Visa, Mastercard and the Bank Defendants.
After years of delays, the court approved this settlement, the proposed claim form, and the tentative claim filing period. The claim filing process is expected to open in December 2023.
Do I qualify to file a claim for revenue recovery from
the Fee Settlement?
If your organization accepted Visa or Mastercard
payments in the U.S. at any time from January 1, 2004,
to January 25, 2019, you may be eligible to recover
significant funds from this Settlement.
What is required to file a claim for Fee Settlement
Recovery?
Maximizing your share of the funds may involve
collecting, filing and tracking information from multiple
store locations, if applicable, and merchant IDs – which
could be a time-consuming and arduous task. The filing
process is expected to begin in December 2023.
How can CoCard help me file my Fee Settlement
claim?
CoCard has partnered with Brownstone Recovery, a class action settlement recovery expert, to help you meet submission requirements and claim your share of the funds with minimal effort.
Enrolling in Brownstone Recovery services is completely optional. Their recovery service includes all the necessary data analysis, document preparation, claims filing, recovery and reconciliation for enrolled businesses. If no money is recovered, Brownstone Recovery will not charge or retain a fee.
What services does Brownstone Recovery provide as part of the Settlement Recovery Service?
● Provide guidance and assistance in retrieving the
applicable documentation and information
● Prepare any required forms and ensure an accurate
and timely claim submission
● Work with settlement administrators to reconcile and
distribute the appropriate recovery under the terms of
the settlements
● Find future settlement opportunities applicable to
your organization
How do I register for Brownstone Recovery services to file my
recovery claim to the Settlement Administrator for
my business?
To register for Brownstone Recovery services, click here. You may sign up now to get a head start, even before the Settlement Claims process is announced. Brownstone Recovery will file and manage your claim, after the Settlement Process opens.