Ccf Settlement

[jaideeguy]

Last year I was informed of a class action lawsuit against Visa, Master Card and others because of their overcharging on for-ex rates for transactions overseas and went reluctantly to their website http://www.ccfsettlement.com/ and because I used my visa card extensively during the period dating back to 1996 [?], I went for the big pay-off and had to divulge some sensitive information [cc#] over their 'secure' site.

There was some debate on this forum as to wether this was a scam or for real. Seemed legit, so I went for it.

I have been expecting to hear some word from them and haven't yet.....has anyone heard anything from them????

[bkkmick]

Looking at the WhoIs for that site it appears to be registered to Heffler, Radetich & Saitta LLP.

It looks legit enough.

[Hairy]

In the U.S. at least, forms were mailed to a lot of people. My mother and I both got these forms for every credit card we'd used overseas. The mailers almost certainly couldn't have gotten the information in any way other than legitimately, in my opinion.

That said, we haven't seen a dime yet, and it's months overdue.

[Tinkelbell]

I also did filed on line at their website one week before it expires on May 31, 2008.

Gave myself to wait 12 -18 months before I see the check.

[thaihome]

Update from the website:

The current status of this class action settlement is that a decision to grant final approval of the settlement is pending before the Court. With the expiration of the claims submission period, on May 30, 2008, the Settlement Administrator has commenced the process of auditing and validating claims. Please be advised that any claims postmarked or faxed after May 30, 2008 will be considered late. Also, any changes to your address or contact information should be sent in writing to the Settlement Administrator. The issuance of refund checks for valid timely claims will not commence until after the Court enters an order granting final approval of the settlement, any potential appeals are resolved, and the Settlement Administrator has validated the claims. Please continue to check this website for additional information about the settlement and claims administration as it becomes available.

[jfchandler]

This issue is still alive... I wrote an email the other day asking the status, and got this response below...

Date Sent: 7/6/2009 4:01:40 AM

------------------------------------------------------------------------

This is in response to your e-mail pertaining to the Currency Conversion Fee Antitrust Litigation.

Claims are estimated to be paid in 2009. Refunds will be paid after the Court finally approves the settlement, and approves any award of attorneys' fees, awards to the class representatives, and allocation of the settlement fund among Settlement Damages Class members, and any appeals related to that approval are resolved. It is possible that this could take several months, or, if appeals are filed, several years. You may want to check the website from time to time for updates.

Furthermore, the hearing to finally approve the settlement took place before the Hon. Judge William H. Pauley, III on March 31, 2008 at the U.S. District Court for the Southern District of New York, and a decision from the Court is still pending. We suggest that you periodically visit the settlement website, www.ccfsettlement.com, which will be updated as soon as the Court reaches a decision.

For more detailed information you can access the Frequently Asked Questions on our website at www.CCFSettlement.com.

If you have any additional questions, you may contact us in writing at the address found on the website, by e-mail through the contact section of our website at www.CCFSettlement.com or by telephone at 1-800-945-9890.

Sincerely,

Settlement Administrator

P. O. Box 290

Philadelphia, PA 19105-0290

[jfchandler]

If anyone's still alive out there...since we first began this thread... Here's the latest from their web site... Getting closer!!! Maybe the checks will come in time for Christmas...

Current Status - In re Currency Conversion Fee Antitrust Litigation (MDL 1409)

The Court has entered a Memorandum and Order, dated October 22, 2009, granting final approval of the settlement. Please visit the "Documents" section on this site to obtain a copy of this Memorandum and Order. The issuance of refund checks for valid, timely claims will not commence until after the entry of a final judgment concerning the final approval of the settlement, any potential appeals are resolved, and the Settlement Administrator has validated the claims.

Since the expiration of the claims submission period on May 30, 2008, the Settlement Administrator has been auditing and validating claims. Please be advised that any claims postmarked or faxed after May 30, 2008 will be considered late. Also, any changes to your address or contact information should be sent in writing to the Settlement Administrator.

Please continue to check this website for additional information about the settlement and claims administration as it becomes available.

If you have a question you would like to send to the Settlement Administrator, please use the Contact Us page of this website, or write to the Settlement Administrator at P.O. Box 290, Philadelphia, PA 19105-0290. The telephone service, 1-800-945-9890, is for information purposes only and a live operator is not available.

[jfchandler]

To anyone reading this for the first time, this thread is about a long-running legal case in which most of the major U.S. credit card companies were sued over their past foreign currency fee practices, and a settlement was reached several years ago that calls for those banks to pay refunds to those individuals, mostly Americans I believe, who submitted their claims before the deadline in the case, based on their past foreign expenditures.

Well, it seems the last ThaiVisa post on this subject was almost two years ago by yours truly... And I happened to check back to the case settlement web site today, and find to my amazement that all the appeals have been resolved in this case, meaning the settlement terms and financial payments to claimants such as TV members should proceed... sometime... specific time still unknown...

The latest is here on the settlement page web site:

http://www.ccfsettlement.com/home/

So at least we know the money is coming... nothing should change that now... The web page says the case drew more than 10 MILLION claims filed....and a total settlement fund, including lawyer's fees and expenses, of $336 million.

A summary of the case on the web site includes the following:

The representative Plaintiffs in the MDL Action challenge how the prices of credit and debit/ATM card foreign transactions were set and disclosed, including a claim that Visa, MasterCard, their member banks, and Diners Club conspired to set and conceal markups and fees, typically of 1-3%, on foreign transactions. The Plaintiffs also claim that the amount of these markups and fees and the alleged failure to adequately disclose them violated federal and state antitrust, disclosure, unfair competition, deceptive practices, and consumer protection laws, as well as common law and principles of equity.

Who are the Defendants?

The Defendants are: Visa, MasterCard, Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian, as well as certain affiliated and predecessor companies.

What is the settlement?(top)

Defendants have created a settlement fund of $336,000,000 to pay valid claims, attorneys' fees and expenses, any service awards to class representatives ordered by the Court, and the costs of administering the settlement and notice. This settlement also includes certain agreements relating to disclosures on billing statements and other documents about foreign transaction pricing (including foreign transaction fees).

What are the amounts of foreign transaction fees estimated to be covered by the settlement?

Plaintiffs estimate that the maximum total amount of foreign transaction fee revenues covered by the settlement is approximately $3.8 billion after reductions for fraud and for defaults on credit card obligations. This $3.8 billion amount includes relevant fees paid on both credit and debit card transactions by members of the Settlement Damages Class from February 1, 1996 through November 8, 2006. The $336 million gross settlement fund represents approximately 9% of the maximum total amount of foreign transaction fees so estimated.

Edited August 12, 2011 by jfchandler

[TallGuyJohninBKK]

Good news here... All the appeals in this case now have been resolved, and the judge has issued a final order directing the issuance of reimbursement claims.... in a case in which more than 10 MILLION claims were submitted....

Eleven appeals were filed challenging the Court's approval of the settlement. All of the appeals have now concluded. Ten of the eleven appeals were either withdrawn or dismissed, and one appeal was decided against the appellant after briefing and oral argument.

On October 5, 2011 the Court entered an Order authorizing the Settlement Administrator to disburse the available settlement funds. Participation in this settlement has been extraordinary, with more than 10,000,000 claims submitted [John's comment-no indication how many have been deemed valid]. We request that you remain patient as the Settlement Administrator finalizes the procedures necessary to administer and mail checks for this enormous volume of claims. Please continue to monitor this website for updates concerning the refund process. If you have changed your address, you should send any updated information to the Settlement Administrator.

http://www.ccfsettlement.com/

The total settlement fund, including lawyer's fees and expenses, is $336 million in this case. For any of those expecting a potential claims check, now's a good time to check about your bank having a remote/online check deposit feature...

Edited December 5, 2011 by TallGuyJohninBKK

[llso]

Just Got a check in the mail last week for $614.32

LL

[jaideeguy]

Just Got a check in the mail last week for $614.32

LL

Well, that's the best news that I've heard all day. I had all but goven up and forgot about the ccf claim. I had submitted my claim back in 2008 and no word from them except a claim number sent just after submitting my claim form.

You received your claim by check llso?? I had assumed that the settelment would have been credited to my debit card account and checked for any recent 'windfalls' and found nothing recent.

I'll send you a PM llso.

Thanks for the news, let's hope it is finally setteled.

[jaideeguy]

I just checked with my brother in the US and he informed me that my check did arrive by mail last week and was just sitting in a pile, unopened. $786......Merry Xmas to me!!

[bigmeow]

I had a question for you guys who got checks. Will they send the checks to Thailand? I submitted my claim almost exactly 4 years ago and it should be large like you guys so I want to make sure I get my check. I had a US address when I submitted the online form. Appreciate any help on that. Changing the address to Thailand would be easiest for me and then I could send it to my us bank for deposit. cheers

[jaideeguy]

My guess is that they have already cut the check and sent it to the addres you supplied with the original claim form. I doubt if they would cancel the check that was already sent out and resend it. Is your old address still working?? Contact them.

[TallGuyJohninBKK]

I don't think the claims administrator would have any problem sending a person's check to a different or non U.S. address.

But you'd need to update your address info with them. And it sounds like they've already begun mailing out the checks.

BTW, those check amounts mentioned above are pretty good sized amounts... surprising even... What claims method did you guys use?

They had several claims methods available originally. One was for people who had all their actual foreign travel card expenses, and I didn't attempt that.

But instead, I used the middle method where I calculated and reported the number of days I'd been traveling outside the U.S. during the claims eligibility period.

In the first step, the Settlement Administrator calculated a "preliminary payment calculation." The preliminary payment amount depended on which Refund Option you selected. Briefly, as a reminder, class members could choose one of three Refund Options:

• Assuming sufficient funds, Refund Option 1 provided a refund of $25 (i.e., a set amount). Please note that the amount paid to Refund Option 1 claimants is the minimum amount paid to all valid claimants. That is, no claimant received less than the Refund Option 1 amount (after the required pro-rata reduction).
• Refund Option 2 provided an estimated refund amount derived from an algorithm that used travel information (e.g., number of days of travel during the period and the purpose for such travel) provided by the claimant.
• Refund Option 3 provided an estimated refund amount using the dollar amount of foreign transactions incurred on each of the claimant's credit and/or debit/ATM cards during the claim period.

Edited December 10, 2011 by TallGuyJohninBKK

[TallGuyJohninBKK]

Here's a Q and A on the issue of the timing of the claims checks on the litigation website:

When will refunds be distributed?

On October 5, 2011 the Court entered an Order authorizing the Settlement Administrator to disburse the available settlement funds. The process for issuing claim payments has commenced. Please be advised that due to the large number of claimants, in excess of 10 million, printing and mailing the checks will take some time. The Settlement Administrator estimates that checks will begin to be mailed in early November and will continue to be mailed until the end of the year (December 31, 2011).

We request that you remain patient as the Settlement Administrator administers and mails checks for this enormous volume of claims.

http://www.ccfsettle...com/faqs/#idQ64

And on changes/updates to addresses:

What if my address or other information changes after I file a claim?

You may change information to your previously submitted claim. To do this, please mail us a letter explaining the information that needs to be changed. The mailing address is:

Currency Conversion Fee Antitrust Litigation

Settlement Administrator

P.O. Box 290

Philadelphia, PA 19105-0290

How will my refund be paid?

Eligible refunds will be paid by check to the primary cardholder on the account.

Who will determine the amount to be refunded to me?

A third party administrator will review all claims and determine the refund amounts.

What if I think the amount of my refund is incorrect?

Within 45 days of receiving your refund, send to the Settlement Administrator at the address listed below a notice requesting a review of your refund, which must include a statement of reasons for contesting the amount of the refund. Include any documentation necessary to support your position.

• 
  Currency Conversion Fee Antitrust Litigation
  Settlement Administrator
  P.O. Box 290
  Philadelphia, PA 19105-0290

Edited December 10, 2011 by TallGuyJohninBKK

[FarangBuddha]

Just received my settlement check here in Thailand. It's dated Nov. 10, 2011 and it was forwarded to me here in Thailand by my USA mailbox service, therefore the delay. Got a check for $ 757.96 (valid for 120 days). This will pay for a few drinks and some "extras" here in LOS.

Edited December 12, 2011 by FarangBuddha

[TallGuyJohninBKK]

Can someone who's received a check post a scan of the envelope exterior and/or mention how the envelope is labeled on the outside...

It would help for folks who'd want to identify such envelopes when they arrive at their mail forwarding shops, but don't know what exactly to be looking for.

[FarangBuddha]

Can someone who's received a check post a scan of the envelope exterior and/or mention how the envelope is labeled on the outside...

It would help for folks who'd want to identify such envelopes when they arrive at their mail forwarding shops, but don't know what exactly to be looking for.

I'll post mine tomorrow (if one doesn't show up before). It's basically a non-descript white business sized envelope, with 2 see-through windows on the front (the bottom much larger in size). The bottom window would show your address and in the top window, you can see the words "Foreign Currency Fee Litigation Settlement Fund Settlement Claim Payment" or a part of it.

It's postmarked using a presorted first class mail "stamp" from Jacksonville, Florida, Permit No. 1284, pre-printed on the envelope.

There is nothing printed on the envelope other than the postage mark. There is nothing indicating it is a government or court check.

Edited December 12, 2011 by FarangBuddha

[TallGuyJohninBKK]

Thanks very much, FB...

Just knowing it has the sender info in the upper left corner indicating foreign currency litigation ought to provide a pretty clear signal to anyone who can see that kind of detail in their mail waiting to be forwarded by various services.... and/or tell family relatives or others who send mail for some here to watch for that kind of sender info.

[FarangBuddha]

I would imagine most (all?) of the checks have been disbursed by now so if one is expecting one, it should arrived already. As I said, my check is dated early November and had been sitting around in my mail pouch for a week before I opened it yesterday.

One other detail, the enveloped, using a pre-printed "stamp," is not franked (cancelled).

Edited December 12, 2011 by FarangBuddha

[TallGuyJohninBKK]

See the info below from the CCF website re the planned timing of the check mailings. They had more than 10 million claims submitted.

Here's a Q and A on the issue of the timing of the claims checks on the litigation website:

The Settlement Administrator estimates that checks will begin to be mailed in early November and will continue to be mailed until the end of the year (December 31, 2011).

Edited December 12, 2011 by TallGuyJohninBKK

[FarangBuddha]

See the info below from the CCF website re the planned timing of the check mailings. They had more than 10 million claims submitted.

Here's a Q and A on the issue of the timing of the claims checks on the litigation website:

The Settlement Administrator estimates that checks will begin to be mailed in early November and will continue to be mailed until the end of the year (December 31, 2011).

I did pretty good then. I think the settlement was for like $ 350M so with 10M claimants, that comes to $ 10 per claim (on average).

[TallGuyJohninBKK]

Ya, I've been surprised at the $600-$700 amounts people here have been mentioning....

The number of claims submitted was about 10 million. But I don't believe the claims admin has ever publicly said how many or what portion were deemed valid.

The claims period covered potential international expenses during a 10 year period, so people living abroad during that entire decade could have racked up a lot of expenses/days abroad.

For me, I just had international tourist travel during the last couple years of the claims period.... And I had a mailing address change along the way. So I gotta check if I ever notified them of my new address.

This case dragged out for so long.... years after the settlement was originally reached until payment time now....that I wouldn't be surprised if they end up having bad/wrong/unusable contact info for a lot of claimants.

[KhunG]

Ya, I've been surprised at the $600-$700 amounts people here have been mentioning....

Me too. I lived overseas during a couple of the years covered by the suit and only got $59.

[TallGuyJohninBKK]

Well, I finally got my check too, via forwarded mail from the U.S.

The check was dated Nov. 18 and the amount was about $18.... Now, in my case, that was based on my filing based on the number of days abroad during the eligible period, which was about 100 total days during a 4 year period all on "tourist" status.

For those who got the multi-hundred dollar checks, I'd sure like to know what of the three different filing methods they used, and any other pertinent info... Seems odd....

[lopburi3]

They sent an itemized list of usage I believe. Been too many years to remember exactly but my check was $107 and did not use plastic that much - am sure the large amounts were people on business and such that had many flights/expenses on there cards. Mine was mailed on December 3 and took almost 3 weeks to get here. Christmas mailing season in USA.

[TallGuyJohninBKK]

I suspect that's correct about people submitting the itemized lists, which was another of the filing options...

In my case, I had numerous cards used during the decade period of eligibility, not all of them I still had active by the time it came a couple years ago to do the filing... Plus, all of that info was back in the U.S., whereas by the time the filing deadline came, I was here... So no easy way to reconstruct everything.

Most of my CC issuers had online access to their past statements, but few if any went back more than 10 years, which would have been necessary to cover the entire eligibility period, or even shorter periods that would have been useful for me.

Needless to say... I had no reason to think that the details of which cards I used and for what foreign expenditures would ever matter a decade later... Unfortunately, it turned out there was a reason.

But there is one small bright side: I was just able to use Pentagon Federal's online scan and deposit system to deposit the check into my PFCU account, without ever leaving the comfort of my home, or paying fees to some Thai bank... Now that part is pretty nice.

PS - I went back just now and checked my CCF filing paperwork from May 2008... I had 108 days of foreign travel during the eligibility period, and got $18 via check.

So that means I was reimbursed at the rate of a bit under 17 cents per day of foreign travel. We really don't know what formula they used and how much the calculated value of the claims was pro-rated because of number of claims far exceeded the available funds. But that's got to be a miniscule amount of the foreign currency fees I would have paid on my card cards during that time..even on a per day basis... 17 cents???

Something tells me the U.S. banks and credit card issuers still ended up getting the best of the deal...settlement not withstanding.

Edited December 24, 2011 by TallGuyJohninBKK

[mouse]

I went itemized and received 540 some dollars back. And the letter said that I am part of another settlement to which I will also receive a check. Merry Christmas

[TallGuyJohninBKK]

It's certainly sounding like there ended up being a big difference between the payments for those who itemized vs. those who took the days abroad approach.