Mastercard Tells Justices £14B Class Action 'Overblown'

Law360, London (May 13, 2020, 5:29 PM BST) -- Mastercard said Wednesday that a proposed £14 billion ($17.2 billion) consumer lawsuit over its merchant fees is "overblown and impractical," telling Britain's Supreme Court the claims should not have been brought under the country's class action regime.

The former head of the Financial Ombudsman Service is seeking to sue Mastercard on behalf of 46 million consumers. (AP) The credit card giant asked the country's top court to overturn a Court of Appeal decision to send the case back to the Competition Appeal Tribunal. The specialist competition court blocked the claim in 2017, finding that the claimants had failed to show how to assess...

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