FEDERALDistrict Court, S.D. New York
2003

In Re Currency Conversion Fee Antitrust Litigation

265 F. Supp. 2d 385District Court, S.D. New York • Decided 2003Modified
Dispute ResolutionCited 79 times

HOLDING

This case involved credit card companies and banks allegedly fixing currency conversion fees charged to cardholders making foreign purchases. The court allowed the antitrust price-fixing claims to move forward but required some customers with arbitration agreements in their card contracts to pursue claims through arbitration instead of court. For subcontractors, this shows that arbitration clauses in contracts are enforceable and can prevent class action lawsuits.

KEY FINDINGS

Dispute Resolution

Arbitration clauses in your contracts are legally binding and will likely force disputes into private arbitration rather than court, even for group claims

FULL COURT OPINION