Alert for our business owners/entrpreneurs - Visa/Mastercard class action settlement

For all of you who run a business and have accepted credit card payments from either Visa or MasterCard anytime from January 2014-January 2019, apparently the parties reached a class action settlement in an antitrust case filed in a New York federal court, which the court has preliminarily approved (for those who aren't lawyers, unlike most individual settlements, class action settlements have to be approved by a court to ensure fairness to the class members). I'm not too well versed on the facts--I just know the general allegation is that Visa and MasterCard conspired to overcharge fees to merchants, in violation of federal antitrust laws.

Details of the settlement and how to see if you qualify here: Payment Card Settlement | Official Court-Authorized Website - Home

Admittedly we're only talking a miniscule percentage of your total revenue...but if you routinely took credit card payments over a period of years (and I know a lot of you gym owners and coaches take credit card payments), even a fraction of a percent adds up.

It’s good to have a lawyer SSC in the crew - thanks for looking out, Brodie!