"Potential Impact of Visa and Mastercard Settlement on American Consumers and Small Businesses"
Americans may be eligible for a one-time cash payout as part of a $5.6 billion credit card settlement, resolving claims of overcharging on interchange fees by Visa and MasterCard. Those who used Mastercard or Visa debit or credit cards between January 1, 2004 and January 25, 2019, can apply for a payout by filling out a form before the May 31, 2024 deadline. Additionally, Visa and Mastercard have reached a $30 billion antitrust settlement to limit credit and debit card fees for merchants in the U.S., potentially leading to lower transaction costs for businesses and consumers.