Did Your Business Incur One or More Unreimbursed Chargeback(s) on a Credit or Debit Card Transaction?
Dates: October 1, 2015 - September 30, 2017
Eligible Class Members
Eligible class members include all merchants that, at any time from October 1, 2015 to September 30, 2017, incurred one or more unreimbursed chargeback(s) on a credit or debit card transaction pursuant to the “Fraud Liability Shift” for the assessment of payment card chargebacks from Visa, Inc., Visa U.S.A., Inc, Mastercard International, Incorporated, American Express Company and/or Discover Financial Services (collectively, the “Networks”). There are other specific classes that have been certified in this litigation, but that information it is not publicly available. FRS will update this Summary as the case progresses and new information becomes available.
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The Defendants include:
The Defendants include: 1) the Networks; 2) the “Issuing Banks” such as Bank of America, N.A.; Capital One Financial Corporation; Chase Bank USA; National Association; Citibank (South Dakota), N.A.; Citibank, N.A.; PNC Bank, National Association; U.S. Bank National; Wells Fargo Bank, N.A.; and 3) EMVCo, LLC.
- Definition of “Fraud Liability Shift”:
In October 2015, liability shifted from the Networks and “Issuers” to merchants for chargebacks from EMV chip-card transactions processed through non-chip enabled terminals (terminals that do not have an EMV-compliant card reader certified to accept chip cards).
This is one of many class actions we are following. If you are interested in learning more about this case or the class action administration services in general, feel free to contact us of fill out the form above.
In 2016, a lawsuit was filed in the Northern District of California, alleging the Defendants implemented and maintained an unprecedented shift in the liability for billions of dollars’ worth of fraudulent payment card transactions. It is impossible to predict the outcome, but money may become available to eligible class
members if a settlement is reached with the Defendants in the future.
This is not an official Court Notice. Information contained in this Summary is subject to change. Class Counsel or the Settlement Administrator may be contacted for additional settlement information. You also may visit the Court-approved website, once it is available. Please understand that you have the right to file on your own. The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation.