The UK’s Competition Appeal Tribunal ruled on July 21 to block a £14 billion class action lawsuit against MasterCard.
The lawsuit claimed that the credit card company overcharged more than 45 million people in the UK over a period of 16 years. Had the lawsuit proceeded, it would have been the largest case in British legal history and would have been the test for the new Consumer Rights Act.
The Financial Ombudsman Service group, who is named as the representative on the class action, has admitted to considering appealing the decision.
Full Content: The Guardian