MasterCard faces €22.5bn lawsuit over fees

UK consumers are preparing a £19bn (€22.5bn) class action lawsuit against MasterCard, almost two years after an EU court ruled the processing fees the company charged for cross-border transactions were unfair.

Walter Merricks, a lawyer who once led the UK organisation handling consumer disputes with banks, has hired Quinn Emanuel Urquhart and Sullivan to draft a lawsuit they plan to file by September, he said.

The claim would be the UK’s biggest and one of the first filed under the Consumer Rights Act 2015.