CONSUMER LAW GROUP has filed a Canadian class action lawsuit against American Express on behalf of merchants who accept as a method of payment Amex credit cards and consumers who purchased a good or service from one of these merchants.
The class action is based on American Express imposing significant anti-competitive restrictions on merchants from providing consumers with incentives to use forms of payment that are less expensive to the merchant than Amex-branded credit cards or even advising consumers of the relative costs of various payment products (the “Anti-Steering Rules”).
Merchants then pass on some or all of the increased costs resulting from high credit card costs to their customers in the form of higher retail prices. These costs are borne by all customers, including those that use other methods of payment, such as cash, debit cards or credit cards with lower fees.
For more information, please visit our CLG website at http://www.clg.org/
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