Settlement checks en route to debit, credit card plaintiffs

Here's a little early holiday bonus: Credit and debit customers who filed claims in the case involving undisclosed fees during foreign transactions can expect a check over the next few weeks.

The 10 million customers in the case against Visa, MasterCard, their member banks and Diners Club recently began receiving checks from a settlement. Checks are expected to reach all of those with claims by Jan. 31.

Plaintiffs complained that the credit and debit card companies "conspired to set and conceal fees," typically of 1 to 3 percent of the foreign transactions, and that Visa and MasterCard "inflated their base exchange rates before applying these fees."

In October, the U.S. Court of Appeals for the 2nd Circuit ordered the disbursement of funds for the settlement.

Those who filed a claim in the case but have not received a check by Jan. 31 should contact the settlement administrator at ccfsettlement.com or write to Foreign Currency Antitrust Litigation, Settlement Administrator, P.O. Box 290, Philadelphia, PA 19105.