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UK CAT approval pending for £10bn settlement in Merricks v Mastercard opt-out consumer interchange fees collective proceedings

Published on: 06 December 2024

Published by a Law360 reporter
Legal News
Article summary

Class representative Walter Merricks announced in a statement that he was glad to have secured a settlement after almost nine years of proceedings with Mastercard. He alleged that British shoppers paid inflated prices in shops due to excessive swipe charges levied by the credit card giant between 1992 and 2008. Merricks said he had agreed a settlement which he believes will provide meaningful compensation to class members who opt to come forward and take part in the distribution of damages. A Mastercard spokesperson said on 3 December 2024 the company was pleased to have, as quoted, 'reached an...

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