A federal lawsuit brought against Visa-, Mastercard-, and Diners Club-branded credit cards was recently settled, pending federal approval.  Some of the named defendants include Visa, MasterCard, Diners Club, Bank of America, Bank One/First USA, Chase, Citibank, MBNA, HSBC/Household, and Washington Mutual/Providian while American Express is named in a seperately filed and still pending case.  The charges in the cases stem from the method in which the banks charged customers currency conversion fees on foreign purchases made between February 1, 1996 and November 8, 2006.

Millions of consumers have been receiving settlement notices in the mail stating that they are entitled to $25 or more in damages.  For more information, you can go to the Currency Conversion Fee Settlement website where they explain the case, have an FAQ summary, as well as claim forms, and contact information for the case.

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