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
NLJ Career Profile: Stephen Ward, The Barrister Group
From mowing lawns to life at the Bar: Stephen Ward reflects on an unconventional career
Clarke Willmott—Ben Loosemore
Commercial property partner joins Clarke Willmott in Southampton
Ellisons—Robert Tiffen
Robert Tiffen joins Ellisons as Partner in growing Norwich office
NEWS
The Law Society RFC Festival of Sport returns next month, bringing together legal and financial services professionals for one of the sector’s largest annual sporting events
Legal aid deserts leave almost one in four without adequate access to justice
The Solicitors Regulation Authority (SRA) has warned solicitors and law firms that using artificial intelligence does not alter their professional obligations, amid concerns over inaccurate legal material and client confidentiality
From forgotten interest claims to case-management appeals, a string of procedural developments offers useful—and occasionally cautionary—lessons for practitioners
Jonathan Fisher KC highlights that it now accounts for around 40% of criminal offences, with roughly 70% involving technology, and argues that the UK cannot simply prosecute its way out of the problem. Detection, investigation and prosecution all require improvement, while different fraud types demand tailored responses.
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