$1.2B Discover credit card merchant interchange fee class action settlement

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Max Payout

TBD

Filing Deadline

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Proof Required?

Discover Financial Services has agreed to pay up to $1.225 billion to settle a class action lawsuit over credit card interchange fees. The lawsuit claimed that Discover misclassified certain credit cards as commercial cards when they should have been classified as consumer cards, leading to higher interchange fees charged to merchants. If you operated a business that accepted Discover credit cards during the relevant time period, you may be entitled to compensation from this settlement. The case centers on allegations that merchants were overcharged due to improper card classification practices.

Who Is Eligible?

You may be eligible to file a claim if you:

Businesses that accepted Discover credit card payments during the class period
Merchants who were charged interchange fees on transactions that Discover allegedly misclassified
Business owners who can demonstrate they processed Discover card transactions
Specific dates and eligibility requirements are still being determined

How Much Can You Get?

With a settlement fund of up to $1.225 billion, this represents one of the larger merchant interchange fee settlements in recent years. The exact amount each eligible merchant will receive depends on factors such as transaction volume, the time period during which they accepted Discover cards, and the total number of valid claims filed. Individual payouts will be calculated based on the actual interchange fees paid during the relevant period.

How to File Your Claim

Filing your claim is quick and easy:

Wait for the court to provide official claim filing procedures
Gather documentation of your business's Discover card transactions during the class period
Review the settlement terms once they become available
Download the Class Action Buddy app to stay updated on filing deadlines and requirements
Submit your claim through the approved settlement website when it becomes available

Frequently Asked Questions

What is the Discover credit card merchant settlement about?

The settlement resolves claims that Discover misclassified certain credit cards as commercial cards instead of consumer cards, causing merchants to pay higher interchange fees than they should have.

How much can merchants receive from the Discover settlement?

The total settlement fund is up to $1.225 billion. Individual merchant payouts will depend on transaction volume and the number of claims filed, with specific amounts to be determined.

When is the deadline to file a Discover merchant settlement claim?

The filing deadline has not yet been announced. Settlement details and claim procedures are still being finalized by the court.

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