Mastercard sued for $19 billion in UK’s biggest ever damages claim
Mastercard is in trouble in the UK.
The payment company is facing a lawsuit that’s demanding £14 billion, or $19 billion, that could be distributed to as many as 46 million people, according to Reuters.
Mastercard allegedly charged high fees to stores to process debit and credit payments, passing those fees onto consumers through higher prices. The suit alleges Mastercard allowed this practice between 1992 and 2008.
The $19 billion claim could be the biggest in UK history, the firm behind the suit says.
Mastercard denied the claims of the lawsuit in a statement Friday.
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