December 13, 2007 6:34 AM Subscribe
Any experience with or deeper information about the Foreign Currency Conversion Fee Antitrust Litigation (whew) settlement?
posted by RandlePatrickMcMurphy to work & money (7 answers total) 6 users marked this as a favorite
I got the mailing regarding the settlement of the class action lawsuit against banks charging excessive (is there any other kind of bank fee?) fees on foreign currency transactions. The basic info is here: http://www.ccfsettlement.com. You may have gotten this too.
There's been internets rumblings that this is a scam to get your bank and cc data. I accept that it is legit.
My question is this: I'd like to file under "Refund Option 3" where you need to list the amount of foreign transactions by year. I lived overseas and used my cc and atm a lot during the eligible period, so it seems worth the effort for 1-3% of around $10K per year for 5 or 6 years.
But somewhere out there there should be someone who's gone through this process, or who has some insider tips into how to maximize the return or who can tell me that there's some cap somewhere and I'm not going to get as much as I think unless I... I don't know what. Or even the criteria on which the "administrator" (a judge?) is going to decide what the refund rate is going to be.
The FAQs on the site are a good start, but other than that I haven't been able to google up much more than some news articles and the debate over whether or not this is an elaborate phishing scam.
Any suggestions, insights into this? IANL answers welcome.