A class action lawsuit has been filed against American Express Company and American Express Travel Related Services Company, Inc. The lawsuit accuses these companies of imposing anti-competitive practices in the credit card market. The plaintiffs’ lawsuit is based on a combination of federal and state antitrust laws, state consumer protection statutes, and claims of unjust enrichment.
This week, a group of debit card users has achieved class certification in a lawsuit against American Express Co. The class, representing users from 11 states and the District of Columbia, alleges that American Express’s rules have indirectly inflated rival card costs.
What Is the American Express Lawsuit About?
The lawsuit, filed in the United States District Court for the Eastern District of New York, represents a collective action on behalf of millions of consumers and entities who have used electronic payment methods other than American Express cards. The plaintiffs allege that American Express’s Anti-Steering Rules in its merchant agreements have unreasonably restrained trade and inflated prices in the credit and charge card transaction market.