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Mastercard Fee Class Action Lawsuit Overview:
- Who: Walter Merricks will bring a class action lawsuit against Mastercard with the latest approval from a UK court.
- Why: The class action lawsuit claims that Mastercard unlawfully charged excessive swipe fees, affecting retailers and consumers.
- Where: The class action lawsuit was filed in the Competition Appeal Tribunal.
After making several rounds around the UK courts, the £14B Mastercard fee class action lawsuit reportedly received its latest approval from the Competition Appeal Tribunal (CAT), allowing the class action representing more than 46 million British consumers to move forward.
The class action lawsuit made its way back to the CAT, which had previously denied the class action in 2017, after getting the green light from the UK Supreme Court and Mastercard subsequently dropped its opposition to the case, according to Law360.
Mastercard Fee Class Action Lawsuit
The Mastercard fee class action lawsuit challenged interchange fees that are levied by payment card companies on merchants’ banks, purportedly to cover the costs of payment card services, innovation and security.
The Mastercard fee class action lawsuit says these card transaction charges were excessive and resulted in merchants charging higher prices for their goods and services, passing the charge onto consumers.
UK Supreme Court Tells CAT to Reconsider Mastercard Fee Class Action
The CAT refused to certify the Mastercard class action lawsuit in 2017 because of the complex nature of the case. The Supreme Court found that CAT erred in several ways when it declined to certify the case in 2017.
The recent reconsideration and advancement of the Mastercard fee class action is certainly a victory for the lead plaintiff, Walter Merricks, and the millions of consumers he represents. The decision also paves the way for the United Kingdom’s burgeoning class action industry.
Mastercard says it still sees the CAT’s decision as a success on its part as well, according to Law360. The CAT ruled that the case would not include around 13 million deceased individuals (although it will include estate representatives) or claims of compound interest.
Do you qualify for the Mastercard fee class action lawsuit? Check your eligibility now and tell us about your experience in the comments below!
The plaintiff is represented by Marie Demetriou QC and Victoria Wakefield QC of Brick Court Chambers, instructed by Quinn Emanuel Urquhart & Sullivan LLP.
The Mastercard Fee Class Action Lawsuit is Walter Hugh Merricks v. Mastercard Inc., et al., Case No. 1266/7/7/16, in the Competition Appeal Tribunal.
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