News Now

Consumer
Foreign travelers and purchasers could see refund
YONKERS, N.Y. (12/31/07)--If you used a credit card when you traveled overseas, or used the Internet to make an overseas purchase in the past 10 years, you might be eligible for a refund for exchange fees that you paid (ConsumerReports.org Dec. 10). More than 20 million people who used a Diners Club, Visa or MasterCard for travel or purchase between Feb. 1, 1996, and Nov. 8, 2006, will receive notices from a New York court about the refunds. The refunds are part of a class-action lawsuit claiming the card companies and seven issuing banks overcharged customers for currency exchange rates. If you’re eligible for the refund, you have three options, according to USA Today (Dec. 13):
* Easy refund of $25--If you traveled outside the U.S. for less than one week or made foreign transactions of less than $2,500 using the cards. * 1% of estimated transactions--If you traveled outside the U.S. for more than a week or had foreign transactions totaling more than $2,500. * 1% to 3% of annual estimated foreign transactions--If you can supply year-by-year information and traveled extensively overseas or made a lot of overseas transactions.
Refund amounts ultimately will depend on the amount of people who file. You have until Feb. 14 to object or opt out of the proposed settlement. If you don’t opt out, you’ll automatically be covered by the settlement terms, which include giving up your right to pursue future claims against the company. For more information, visit ccfsettlement.com/ or call 800-945-9890. Also, more information is included in “Arbitration Clause Denies You Your Day in Court” in Home & Family Finance Resource Center.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago
150x172_Annual Report 2013Unite for Good Share your Stories100 Million CU Memberships