Credit Card Readers

High Court dismisses card users’ swipe fee lawsuit against banks

By Margaret N. Yarbrough
By Christopher Cole (Jan 10, 2022, 8:10 p.m. EST) – The U.S. Supreme Court on Monday upheld a District II ruling, a lawsuit by cardholders against so-called interbank fees, levied by several major banks, including HSBC not to revive and JPMorgan Chase.

The judges turned down a petition to review the Second Circuit’s decision without comment. Card users submitted the petition to the appellate court on November 11 after it was lost, where a three-person panel ruled in June that Mastercard and Visa Inc. cardholders did not pay the fees themselves and are therefore not entitled to challenge them in court.

The cardholders alleged in their litigation that HSBC Finance Corp., …

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Margaret N. Yarbrough
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