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Mastercard $19 billion lawsuit is UK’s biggest-ever damages claim

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MasterCard is being sued for 14 billion pounds ($18.6 billion) in Britain for allegedly charging excessive fees on millions of transactions over a 16-year period.

Law firm Quinn Emanuel filed the suit Thursday at the Competition Appeal Tribunal for Walter Merricks, a former U.K. financial services ombudsman.

The firm says the claim is the biggest in British legal history and could bring a payout to 46 million British users of MasterCard credit and debit cards. – READ MORE

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