Information Concerning: In re Currency Conversion Fee Antitrust Litigation (MDL No. 1409) & Ross, et al. v. American Express Co., et al. (No. 04-5723) – Current Status

The Court granted final approval of the settlement in a Memorandum and Order, dated October 22, 2009, and, on November 4, 2009, the Court entered a Final Judgment and Order of Dismissal in this case. Eleven appeals were filed challenging the Court's approval of the settlement. All of the appeals have now concluded. Ten of the eleven appeals were either withdrawn or dismissed, and one appeal was decided against the appellant after briefing and oral argument.

On October 5, 2011 the Court entered an Order authorizing the Settlement Administrator to disburse the available settlement funds. Participation in this settlement has been extraordinary, with more than 10,000,000 claims submitted. We request that you remain patient as the Settlement Administrator finalizes the procedures necessary to administer and mail checks for this enormous volume of claims. Please continue to monitor this website for updates concerning the refund process. If you have changed your address, you should send any updated information to the Settlement Administrator.

As a reminder, any claim form postmarked after May 30, 2008 will be deemed untimely and, pursuant to the Court's October 22, 2009 Order, will be disallowed. Due to the large number of claims that were submitted prior to the May 30, 2008 deadline, refund amounts have been adjusted downward (or "pro-rated").

Please continue to check this website for additional information about the settlement and claims administration as it becomes available.

For information about the proposed settlement in Ross, et al. v. American Express Co., et al. (No. 04-5723), please enter the website (use the "Click here" link below) and follow the links to Frequently Asked Questions ("FAQs") and Documents for the Ross, et al. v. American Express, et al. matter.

If you have a question you would like to send to the Settlement Administrator, please use the Contact Us page of this website, or write to the Settlement Administrator at P.O. Box 290, Philadelphia, PA 19105-0290.

Click here to proceed to the Currency Conversion Fee Antitrust Settlement ("CCF I") website and information regarding the related matter, Ross, et al. v. American Express Co., et al., No. 04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.)

Information Concerning: Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.) – Proposed Settlement with National Arbitration Forum, Inc. ("NAF")

Subject to final approval by the Court, a settlement has been reached with defendant National Arbitration Forum, Inc. ("NAF"). This is the fifth settlement reached in this matter. The Court has already entered Final Judgment as to settlements reached with four of the seven defendants – Bank of America, Capital One, Chase and HSBC – in Ross, et al. v. Bank of America, N.A., (USA), et al., No. 05-cv-7116, MDL No. 1409 (S.D.N.Y.).

This lawsuit involves claims that the settling defendants Bank of America, Capital One, Chase, HSBC and NAF and the non-settling defendants Citibank and Discover violated federal law by conspiring, with each other and certain non-defendants, to require that their cardholders (a) take all legal disputes to arbitration rather than court and (b) give up any right to participate in class actions against the above six credit card companies. This case is on behalf of cardholders who are subject to arbitration clauses. Cardholders who are not subject to arbitration clauses, including any Discover cardholders who have opted out of arbitration, are not included in the case.

All settling defendants and all non-settling defendants deny that they conspired with each other or that they violated any law, and assert that they have done nothing wrong or improper.

For information about the litigation and the proposed settlement with NAF, including important deadlines and links to relevant documents for Members of the Settlement Class and others interested in the settlements, please visit the settlement website www.arbitration.ccfsettlement.com.

The deadline for submitting an objection to the settlement with NAF is March 16, 2012. The date for the hearing on final approval of the NAF settlement is April 27, 2012.

Click here to proceed to the Arbitration Antitrust Settlement website.