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Potential Class Action Lawsuit against American Express in Rhode Island

Complaint claims that American Express is in default in the arbitration proceeding

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  • Written by  Banking Exchange staff
 
 
Potential Class Action Lawsuit against American Express in Rhode Island

At least ten retail businesses have filed a lawsuit in Rhode Island looking to block American Express policies contending it is against United States laws due to its non-discrimination policy that stops businesses from encouraging their patrons to use alternative cards with low transaction fees.

Visa and Mastercard have also been targeted in similar cases focused on so-called swipe fees and stopped its similar policies more than a decade ago, but not before a settlement of more than $5.6 billion in New York last year.

The complaint claims that American Express is in default in the arbitration proceeding and could not now move to keep the merchants from bringing their claims in a U.S. court.

The case is called "5-Star General Store et al v. American Express Company" in the U.S. District Court for the District of Rhode Island.

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