The Guardian has reported that MasterCard, the financial services firm, is being sued for £14bn in the biggest legal claim in UK history. It faces claims that its “interchange fees” on retailers unlawfully overcharged UK consumers for 16 years from 1992 to 2008. Law firm Quinn Emanuel filed the suit at the Competition Appeal Tribunal last week. It is the first claim to be filed under the Consumer Rights Act 2015 on behalf of all UK consumers. MasterCard will fight the action arguing that its payment services are designed to meet customer needs. The European Court of Justice ruled in 2014 that Mastercard’s fees were excessive.
15 September 2016
Mass action action against “interchange fees”
MOVERS & SHAKERS
Gateley Legal—Jack Kelly
Gateley Legal expands Midlands residential development team
Gibson Dunn—Richard Surtees
Gibson Dunn adds employee benefits and executive compensation practice in London with partner Richard Surtees
NEWS
A series of recent decisions has clarified important principles across property law, from perpetuities to lease renewals and public rights over land
Employers cannot rely on wellbeing services alone to defend workplace stress claims after a High Court decision awarding almost £1m to an overworked employee
Andy Burnham's brand of 'Manchesterism' could offer fresh thinking on legal aid and access to justice if it reaches Westminster, according to Roger Smith, NLJ columnist and former director of JUSTICE
The constitutional fallout from a change of prime minister, rather than the politics, is under scrutiny as questions arise over the limits of executive authority in a leadership transition
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