MCR is a professional services firm that helps corporations identify eligibility, file claims and collect funds made available in antitrust and class action settlements.
MCR's team of professionals have experience working with leading class action law firms and settlement administration providers. MCR will communicate directly to the Claims Administrator and the Court regarding your Claim. MCR charges a simple percentage fee on recovered funds.
Once the Class Administrator estimates Interchange Fees Paid by each Authorized Claimant during the Settlement Class Period, it will be able to calculate the total of such Interchange Fees Paid by all Authorized Cash Claimants. Each Authorized Cash Claimant would then be eligible to receive its pro rata share of the Cash Fund based on the Authorized Cash Claimant’s Interchange Fees Paid as compared to the total amount of Interchange Fees Paid by all Authorized Cash Claimants. Distribution will be made to Authorized Cash Claimants on a pro rata basis, after the settlement has been finally approved (i.e., after all appeals are concluded) and after substantially all claims have been processed and approved by the Court.
The Second Circuit Court of Appeals reversed approval of the settlement and returned the case to the District Court on June 30, 2016. Litigation is ongoing. No claim forms are available at this time, and no claim-filing deadline exists. Update as of October 4, 2023: The Court of Appeals for the Second Circuit affirmed all aspects of the District Court’s final approval order save one on March 17, 2023. The settlement received Final Approval in August of 2023 and the claims filing period is estimated to open in December, 2023.
Under the settlement, Visa, Mastercard and the Bank Defendants have agreed to provide $5.54 billion to merchants that did not exclude themselves from the Settlement Class.
Every merchant in the Rule 23(b)(3) Settlement Class that did not exclude itself from the class by the deadline, and files a valid claim (“Authorized Claimant”) will be paid from the settlement fund. The money in this settlement fund will also be used to pay:
The cost of Settlement administration and notice, and applicable taxes on the settlement fund and any other related tax expenses, as approved by the Court;
Money awards for Rule 23(b)(3) Class Plaintiffs for their service on behalf of the class, as approved by the Court; and
Attorneys’ fees and expenses, as approved by the Court.
There is absolutely no size limitation. All persons, businesses, and other entities that have accepted any Visa-Branded Cards and/or Mastercard-Branded Cards in the United States at any time from January 1, 2004 to January 25, 2019, except that the Rule 23(b)(3) Settlement Class shall not include (a) the Dismissed Plaintiffs, (b) the United States government, (c) the named Defendants in this Action or their directors, officers, or members of their families, or (d) financial institutions that have issued Visa-Branded Cards or Mastercard-Branded Cards or acquired Visa-Branded Card transactions or Mastercard-Branded Card transactions at any time from January 1, 2004 to January 25, 2019.
When you sign up, MCR will gather limited information from your business regarding legal entity name and Tax ID/EIN. We will also request that you provide any current and past processor information. After that, we will attempt to obtain historical data to be used in determining whether the administrator’s estimate of interchange fees paid by you is accurate or whether it should be challenged. If historical data can not be acquired, claims will be based on data provided to the courts by the defendants.
Disclaimer: Manor Capital Recovery (MCR) is not a law firm and does not give legal advice. MCR is not associated with the class administrator, the court, class counsel or any other official parties. You do not have to hire a third-party claims consultant and are entitled to file your claim on your own without incurring any fee. For The Payment Card Settlement Only: The settlement has now received final approval. Claim forms will begin to be delivered and available online in December. No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period. No one is required to sign up with any third-party service in order to participate in any monetary relief. For additional information regarding the status of the litigation, interested persons may visit www.paymentcardsettlement.com, the Court-approved website for this case.
Your Business Will Have To File a Claim To Collect Your Share Of The Settlement.
This settlement resolves claims that Visa, MasterCard and more than a dozen of the nation's largest credit card issuers conspired to restrain competition by illegally charging higher interchange fees for credit card transactions.
Any merchant that accepted one or more of these debit or credit cards between January 1, 2004 and January 25, 2019 may be eligible to recover funds.
Manor Capital Recovery makes it easy to streamline filing and optimize returns for merchants in the Visa/MasterCard Payment Card Interchange Fee Settlement.
There are no upfront fees. MCR handles the reimbursement process on a contingent fee basis, which is equal to 20% of the amount that is actually reimbursed to your company as part of the settlement.
In order to get started with outsourcing your claim management to MCR so we can optimize your pro rata share of the $5.54 billion settlement, we will need the following information:
