Question 1.This is regarding ccfsettlement. Is the company & what it represents valid?

They state that a court settlement regarding fees credit cards and bank atms charge is invalid and if
one sends in their travel purchase history abroad for the last 10 years, one is entitled to a refund.
I know in the past credit cards have charged 3%. This year my bank and the banks in my area, NW Indiana are now charging 3% for all financial transactions. So if the banks and all the credit cards are
doing this how can there be a court refund available?
question 2. How can one get around the fees for purchasing outside the USA?
Thank you.
Carol

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December 05, 2007

Posted by TonyLiu

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The reason is that Visa, MasterCard, Diners Club and other banks conspired illegally to set and conceal fees. This is price fixing with is illegal.

Price fixing is illegal as it allows companies to push the price of a product as high as possible without facing competition.

What should have happened is years ago AMEX set their abroad charge at 3%, and then MasterCard to compete and draw in AMEX costumers set their abroad charge to 2%. AMEX would then respond by likely setting their abroad charge to 2%, which yields a fair market price.

Does that make sense?