Information Concerning: In re Currency Conversion Fee Antitrust Litigation (MDL No. 1409) – Current Status
On April 16, 2013, the Court approved a distribution of checks concerning foreign transaction fee claims made in connection with the settlements in the two related matters In re Currency Conversion Fee Antitrust Litig. and Ross, et al. v. American Express Co., et al. (The initial distribution of checks in connection with the Currency Conversion Fee settlement was completed by mid-January 2012.)
The Settlement Administrator will be issuing distribution checks to Authorized Claimants during the period from approximately mid-May to mid-July, 2013. (Please see the Frequently Asked Questions for information on the distribution checks.) You should note that distribution checks will be void after 90 days from the date on the check. If you receive a settlement check, please promptly deposit it before the check’s 90-day expiration date.
Because of the large volume of checks (more than 7.4 million), the checks will be mailed over a period of approximately two months, beginning in mid-May, 2013. If you submitted a valid, timely claim and you have not received a check by the end of July 2013, please contact the Settlement Administrator or Co-Lead Class Counsel. To assist such inquiries, claimants should provide as much of the following information as possible: name, current address (and the address used when the claim was submitted, if different), current contact information (e.g., telephone or email), Claim number or Refund ID number, and the type of claim submitted.
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.
If you have a question you would like to send to the Settlement Administrator, please use the Contact Us page of this website, or write to the Settlement Administrator at P.O. Box 290, Philadelphia, PA 19105-0290.
Click here to proceed to the Currency Conversion Fee Antitrust Settlement ("CCF I") website and information regarding the related matter, Ross, et al. v. American Express Co., et al., No. 04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.)
Information Concerning: Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.) – Proposed Settlement with National Arbitration Forum, Inc. ("NAF")
On April 30, 2012, the Court granted final approval for the settlement reached with defendant National Arbitration Forum, Inc. ("NAF"). Please click here to view the Court's Orders and other materials concerning the settlement with NAF.
This is the fifth settlement reached in this matter. The Court has already entered Final Judgment as to settlements reached with four of the seven defendants – Bank of America, Capital One, Chase and HSBC – in Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.).
This lawsuit involves claims that the settling defendants Bank of America, Capital One, Chase, HSBC and NAF and the non-settling defendants Citibank and Discover violated federal law by conspiring, with each other and certain non-defendants, to require that their cardholders (a) take all legal disputes to arbitration rather than court and (b) give up any right to participate in class actions against the above six credit card companies. This case is on behalf of cardholders who are subject to arbitration clauses. Cardholders who are not subject to arbitration clauses, including any Discover cardholders who have opted out of arbitration, are not included in the case.
All settling defendants and all non-settling defendants deny that they conspired with each other or that they violated any law, and assert that they have done nothing wrong or improper.
For information about the litigation and the proposed settlement with NAF, including important deadlines and links to relevant documents for Members of the Settlement Class and others interested in the settlements, please visit the settlement website www.arbitration.ccfsettlement.com.
The deadline for submitting an objection to the settlement with NAF is March 16, 2012. The date for the hearing on final approval of the NAF settlement is April 27, 2012.
Click here to proceed to the Arbitration Antitrust Settlement website.