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CCF Settlement: Scam or Legit?

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Background:

In late 2007, many consumers received notice that they were entitled to part of a settlement. The settlement, CCF Settlement, claimed the consumer could receive $25 or more. In late 2011, consumers who submitted a claim began receiving checks. Checks may include the wording "Foreign Currency Fee Litigation Settlement Fund."

Is it a scam?:

No. The CCF Settlement is not a scam.

Details:

In 2006, a $336 million settlement was agreed to by several major banks including Bank of America, Citibank, and MBNA.

Visa, MasterCard, and Diners Club credit cardholders who used their credit cards is a foreign currency conversion transaction between February 1, 1996 and November 8, 2006 may be entitled to part of the settlement.

You can find out more information about the settlement, including instructions for getting your refund, by visiting www.ccfsettlement.com or calling 1-800-945-9890. The deadline for submitting a claim was May 30, 2008. If you did not make a claim by that time, you aren't eligible for part of the settlement.

The case was settled on October 5, 2011 and a settlement fund of $336 million was created to refund customers of foreign transactions fees that were charged between February 1, 1996 and November 8, 1996. If you traveled out of the country or made a foreign purchase during that period of time with a Visa, MasterCard, or Diner's Club card and you submitted a claim by the deadline you should receive a part of the settlement.

Checks are being mailed to class participants between November and December 31, 2011. According to the settlement site - CCFSettlement.com - checks are mailed by geographic location so everyone won't receive their checks at the same time. You should receive a check by January 31, 2012, but if you don't you can contact the plan administrator at - http://www.ccfsettlement.com/contact/.

If your address has changed since you made your claim, write to "Currency Conversion Fee Antitrust Litigation - Settlement Administrator, P.O. Box 290, Philadelphia, PA 19105-0290" to change your contact information. You can also write to the settlement administrator if you feel your refund isn't large enough, but make sure you include documentation to support your claim.

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