On October 5, 2011 the Court entered an Order authorizing the Settlement Administrator to disburse the available net settlement funds (approximately $275,600,000) to pay valid claims of claimants in a class action lawsuit in the United States District Court for the Southern District of New York (styled In re Currency Conversion Fee Antitrust Litig., MDL 1409). The case alleged the price cardholders of Visa-, MasterCard-, or Diners Club-branded payment cards were charged to make transactions in a foreign currency, or with a foreign merchant, between February 1, 1996 and November 8, 2006, were excessive. The casle also alleged how the prices of credit and debit/ATM card foreign transactions were set and disclosed was inaccurate, according to the In re Currency Conversion Fee Antitrust Litigation class action settlement website.
According to the In re Currency Conversion Fee Antitrust Litigation class action settlement website, the Settlement Administrator estimates that checks will begin to be mailed in early November and will continue to be mailed until the end of the year (December 31, 2011). I received mine on November 17, 2011.
For more information on the Currency Conversion Fee Antitrust Litigation & Credit Card Foreign Transaction Fee Class Action Settlement, visit the In re Currency Conversion Fee Antitrust Litigation settlement website: