In most countries, spring is the best time of year when a good number o >>>
Credit card major MasterCard is facing a lawsuit filed on Thursday seeking £14 billion (around $18.7 billion or Rs 1.23 lakh crore) in damages — the largest legal claim in British history — over allegations it overcharged 46 million consumers in the UK. According to Quinn Emanuel, the fees – known as ‘interchange fees’ – were set at an unlawfully high level and pushed up prices for British consumers. The claim was brought by Walter Merricks, the UK’s former chief financial services ombudsman.
It is the first claim to be filed under the Consumer Rights Act 2015 on behalf of all UK consumers. The Act enables a collective damages claim to be brought on behalf of a class of people who have suffered loss.