Judge OKs $336M Settlement Over Credit Card Fees

By Nick Malinowski

Law360, New York (October 22, 2009, 6:49 PM ET) -- A $336 million settlement a class of consumers reached with credit card companies and banks accused of breaching federal and state antitrust laws by colluding to fix foreign currency fees has been granted approval by a federal judge, three years after the defendants put the money away in escrow to repay the plaintiffs.

Judge William H. Pauley signed the agreement in the U.S. District Court for the Southern District of New York Thursday, acknowledging that the pact was not “perfect” but did “the greatest good for...
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