The UK Supreme Court has ruled against an appeal submitted by Mastercard over a £14bn class action suit, which accuses Mastercard of overcharging more than 46 million people over a 15-year period.
The consumer class-action suit, brought by the Financial Ombudsman Service’s former chief Walter Merricks, is based on a 2007 legal finding by the European Commission, which found Mastercard imposed unfair fees on all transactions made using its card network between May 1992 and December 2007.
