Please see below from NRECA regarding Class Action Settlement on credit card charges

Michelle Hershel
Director of Regulatory Affairs
Florida Electric Cooperatives Assoc.
2916 Apalachee Parkway
Tallahassee, FL  32301
Cell:  (850) 510-1693
(850)877-6166, ext. 3

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-----Original Message-----
From: Tyler Butler <tyler.butler@nreca.coop>

Subject: [membersonly] Preliminary Settlement Approved in Class Action Against Visa and Mastercard

We recently learned that, on January 25, 2019, the United States District Court for the Eastern District of New York (Court) preliminarily approved a settlement in a class action lawsuit concerning claims that merchants paid excessive fees to accept Visa and Mastercard because Visa and Mastercard, individually, and together with their respective banks, violated antitrust laws. The proposed settlement amount is $5.54 billion to $6.24 billion. Any electric cooperative, public power district, or other NRECA voting member that accepted Visa or Mastercard transactions between January 1, 2004 and January 25, 2019 should work with its legal counsel to determine whether it qualifies as a class member for purposes of the settlement. The deadlines to object to or exclude oneself from the settlement are July 23, 2019. The Court’s Fairness Hearing to determine whether the settlement is fair, adequate, and reasonable is currently set for November 7, 2019 at 10:00 a.m. Additional information concerning the class action settlement, as well as the rights and options of class members in the case, can be found on the official court-authorized settlement website, which can be accessed at the following url: www.paymentcardsettlement.com.

NRECA will monitor and report on final approval of the settlement, and accompanying information for submitting a claim.

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