Hope you didn’t throw that class action settlement check in your junk mail.


Jacob Davies on Flickr

More than 10 million consumers will receive checks in the mail as part of a multibillion-dollar lawsuit against credit card companies that allegedly overcharged travelers for overseas transactions.

Just make sure you don’t throw your check away with the rest of your junk mail, Credit.com’s Gerry Detweiler warns.

The settlement was rewarded by Visa, MasterCard and Diners Club customers who transacted in foreign currencies between February 1, 1996 and November 8, 2006.

Why this long wait? There was at least 11 appeals filed after the settlement was approved in 2009.

In the lawsuit, consumers claimed that the companies conspired to increase “currency conversion fees” for foreign travelers and that Visa and MasterCard inflated their base exchange rates before applying the fees.

This is the fifth settlement in the case, with lawsuits against Citibank and Discover still ongoing.

There is a useful site dedicated to keeping complainants informed of events surrounding the case: http://www.ccfsettlement.com.

Lengthy class action settlements are the norm for these types of massive disputes.

A Settlement Claims Administrator is appointed to handle plaintiffs’ claims and it can take years to work out the details and share the settlement pie.

Last month, eight states announced a $553 million settlement with seven tech companies accused of conspiring to drive up the prices of LCD screens used in popular electronics.

Due to the overwhelming number of plaintiffs involved in class action lawsuits, scammers like to take advantage of unwitting consumers by mailing or emailing fraudulent settlement notices.

Just be aware that unless you have actually filed a claim for a lawsuit, you should not receive any mail regarding a paycheck in the mail. Claims for the currency conversion lawsuit were due to return in 2008 and are no longer accepted.

Paychecks are like any other junk mail that’s probably piling up on your kitchen counter.

The “from” address will most likely list the name of the lawsuit – in this case, “Currency Conversion Fee Antitrust Litigation” – as well as Settlement Claims Administrator as the sender.

Discover Detweiler Publish for screenshots of what currency conversion fee paychecks look like.

If you are a claimant and have changed your address since filing your claim, contact the Settlement Administrator here:

Currency conversion fees Antitrust litigation

Settlement administrator

Box 290

Philadelphia, PA 19105-0290

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