MasterCard sued for $19 billion in Britain’s biggest damages claim

‘The leading global payment company MasterCard is being sued for £14 billion ($19 billion) in damages. The company allegedly charged its 46 million UK customers excessive fees for using its cards.
According to court documents filed in London, the company set unlawfully high fees to stores when shoppers swipe their debit or credit cards, and it has been doing that for 16 years between 1992 and 2008.
The case was brought by UK’s former chief financial services ombudsman Walter Merricks who said “MasterCard charged billions of pounds of unlawfully high fees for its sole benefit and to the detriment of consumers.” He is backed by law firm Quinn Emanuel, under the new Consumer Rights Act.’
Read more: MasterCard sued for $19 billion in Britain’s biggest damages claim