Visa, Mastercard Swipe Fee Settlement

Preliminary approval of a class-action settlement called In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation has been granted by a Federal Court.  The original lawsuit claims that Visa and Mastercard, along with their member banks, violated anti-trust laws in charging excessive fees associated with acceptance of their payment cards.  The court has preliminarily approved a proposed settlement amount of $6.24 billion for eligible class members. 

Some FUELIowa members have received notice of the settlement.  As is the case with many class-action settlements, eligible class members are provided with three options in how they respond to the settlement: (1) agree to the settlement and the receipt of funds; (2) opt out of the settlement; or (3) object to the settlement.  FUELIowa members that receive a notice of the settlement and choose not to opt out or object to the settlement will receive a claim form in the mail or by email once the settlement is formally approved by the federal court.  Claim forms are separate from the notice of the preliminary settlement that you may have already received and will only be made available to eligible class members after the settlement is final.

Following final approval, eligible class members may request claim forms from the class administrator via the following:

1. Phone: 1-800-625-6440
2. Mail:  Payment Card Interchange Fee Settlement, P.O. Box 2530, Portland, OR 97208-2530
3. Email:  info@PaymentCardSettlement.com

Class members may fill out a claim pre-registration form at www.PaymentCardSettlement.com, doing so does not impact your rights in this case. FUELIowa members that do not receive a notice or claim form may still file a claim using the resources listed above.  All claims will be subject to a deadline once the federal court issues its final approval of the settlement.  Please contact FUELIowa with any questions.