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Which? intervenes in £14bn class action suit against Mastercard

Which? intervenes in £14bn class action suit against Mastercard

UK consumer group Which? is intervening in Mastercard's appeal in the Supreme Court over a £14 billion class action lawsuit against the card issuer relating to interchange fees.

This week, the landmark Merricks vs Mastercard collective action will reach a significant moment as the Supreme Court hears the card issuer’s appeal against a ruling that may allow the £14 billion collective action to proceed to the next stage of litigation.

In 2016, former financial ombudsman Walter Merricks launched a class action on behalf of 46 million customers against Mastercard. The claim relates to the European Commission’s 2007 finding that the issuer charged inflated card fees on consumer card transactions between 1992 and 2008.

The claim was brought as an opt-out collective or class action, made possible by the Consumer Rights Act 2015.

Which? says that it has decided to intervene because, five years after the act was introduced, no claims have yet been allowed to proceed to trial.

Caroline Normand, Which? director of advocacy, says: "Which? has long campaigned for a collective redress scheme, but with no claim under the new regime reaching a full trial, consumers have not yet had the results they need.

“This Supreme Court hearing is therefore a vital one for consumers and Which? has intervened to ensure the regime achieves its purpose of providing real access to justice.”

Comments: (1)

Duane Tough
Duane Tough - PBATM - ny 13 May, 2020, 14:58Be the first to give this comment the thumbs up 0 likes

No Surprise here....Networks and their lawyers...you get what you pay for and the Networks pay a lot for legal that is still less than settling IMHO