American Express' $49.5M Settlement Is Granted Final Approval

American Express' $49.5M Settlement Is Granted Final Approval

NEW YORK - A federal judge in New York on April 30 granted final approval to a $49.5 million class action settlement with American Express on claims that American Express violated antitrust laws by conspiring with credit-card-issuing banks to fix foreign currency conversion fees; however, claims that it conspired to impose arbitration clauses in cardholder agreements continue (In re Currency Conversion Fee Antitrust Litigation (Robert Ross, et al. v. American Express Company, et al.), MDL No. 1409, 04 Civ. 5723, S.D. N.Y.).  Subscribers may view the order available within the full update.

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