In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, 1:05-md-1720 (E.D.N.Y.)

This antitrust class action litigation was brought on behalf of a Settlement Class consisting of 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 24, 2019.

Total Settlements Reached: $5.54 Billion.  

Claim Filing Deadline: Passed on February 4, 2025.

Defendants include: Mastercard Defendants (Mastercard International Incorporated and Mastercard Incorporated, Visa U.S.A. Inc.); Visa Defendants (Visa International Service Association (also known as Visa International), and Visa Inc.); and “Bank Defendants”  (Bank of America, N.A.; BA Merchant Services LLC (formerly known as National Processing, Inc.); Bank of America Corporation; Barclays Bank plc; Barclays Delaware Holdings, LLC (formerly known as Juniper Financial Corporation); Barclays Bank Delaware (formerly known as Juniper Bank); Barclays Financial Corp.; Capital One Bank (USA), N.A.; Capital One F.S.B.; Capital One Financial Corporation; Chase Bank USA, N.A. (and as successor to Chase Manhattan Bank USA, N.A. and Bank One, Delaware, N.A.); Paymentech, LLC (and as successor to Chase Paymentech Solutions, LLC); JPMorgan Chase & Co. (and as successor to Bank One Corporation); JPMorgan Chase Bank, N.A. (and as successor to Washington Mutual Bank); Citibank, N.A.; Citigroup Inc.; Citicorp; Fifth Third Bancorp; First National Bank of Omaha; HSBC Finance Corporation; HSBC Bank USA, N.A.; HSBC North America Holdings Inc.; HSBC Holdings plc; HSBC Bank plc; The PNC Financial Services Group, Inc. (and as acquirer of National City Corporation); National City Corporation; National City Bank of Kentucky; SunTrust Banks, Inc.; SunTrust Bank; Texas Independent Bancshares, Inc.; and Wells Fargo & Company (and as successor to Wachovia Corporation)).

Update:  It is anticipated that the initial, partial distribution will occur in early 2026.

On August 20, 2025, Class Counsel filed a motion with the Court requesting approval of an initial, partial distribution for certain claimants. On October 30, 2025, the Court approved the motion. The Court found that the initial, partial distribution of settlement funds set forth in class counsel’s motion is in the best interest of the class because (1) eligible claimants with clear, uncontroversial claims will receive a partial payment of their share of the settlement fund; and (2) the Lanning and Old Jericho plaintiffs, whose appeals are currently pending, will be adequately protected through their trust accounts and through the significant amount of settlement funds that will remain following the partial distribution. The Honorable Chief Judge Brodie created the trust accounts in lieu of staying distribution of the settlement fund and, in so doing, recognized various uncertainties surrounding partial distribution. To deny class counsel’s motion based on the mere presence of uncertainties — which class counsel and the claims administrator have acknowledged and have accounted for with a conservative, well-supported partial distribution value — would undermine Chief Judge Brodie’s intent in allowing settlement distribution to proceed while the appeals are pending.