Visa, MasterCard, charged with ripping off US cardholders in foreign countries
The major news today was a US judge OKing a $336 million dollar settlement in a class-action lawsuit against Visa and MasterCard for conspiring to overcharge customers on foreign transactions. Bank of America, Citigroup Inc., Holdings Plc, JPMorgan Chase & Co., Washington Mutual Inc., and several of their affiliates were also implicated.
While this is very good news for overseas travelers, it also serves as a warning and reminder to be very careful when traveling to other countries, and pay close attention to costs, fines, and fees.
Oh, and also, the Democrats took the House and probably the Senate.
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These banks are also engaging in an illegal money creation scheme that more and more people are catching on to, as evidenced by the class action lawsuit against Canada’s banks
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