Extra Charges Will Help Canadians
Merchant Law LLP commenced national class action litigation against the Canadian major credit card issuers at 10:00 a. m., July 12th 2012.
Ontario (I-Newswire) July 24, 2012 - Extra Charges Will Help Canadians
July 12, 2012
Merchant Law LLP commenced national class action litigation against the Canadian major credit card issuers at 10:00 a. m., July 12th 2012. The action attacks the Canadian credit card practice of restricting surcharge rights which in the rest of the world.
"Everywhere but in North America, merchants may charge more if you use a credit card. Without analysis Canadians will wrongly think this 'No Surcharge' rule help them. But in reality it hurts Canadian business and Canadians", Tony Merchant said.
"This action is not about Merchant helping merchants but helping consumers. It sounds perverse", Mr. Merchant said "but letting them charge us more, helps consumers.”
“The wrong", Mr. Merchant said, "which this class action attacks is that goods and services in Canada all carry a built-in extra charge for the credit card expense. If merchants are allowed to surcharge for credit card use, as they do worldwide then the additional cost to Canadians will not be built on everything we buy" Mr. Merchant explained.
"Bloomberg expects a settlement of similar US proceedings this week” said Tony Merchant “but analysts have the effect dead wrong. Cost is increased by credit card use.”
“If all purchases by Canadians were made through Visa and MasterCard, as paragraph 52 of the claim indicates”, said Mr. Merchant, “the increased cost to Canadians would be about 5%. People would receive on average about 2% back through the value of loyalty programs. The Canadian economy would waste 3% of the value of all goods and services. Enticing to make purchases through credit cards because you get something back is a huge disadvantage to the Canadian economy."
Merchant Law Group has 12 offices across Canada, with lawyers practicing law in six provinces and an American state. Merchant Law Group and Tony Merchant Q.C. are well known for pursuing action lawsuits in Canada including litigation regarding Complete Contact Lens Solution, Winners/HomeSense, Various Cellular Phone Fees, BCE Dividends, GM Gasket Manifolds, Hip Implants, Lead Paint in Toys (and similar consumer products), Maple Leaf, Celebrex/Bextra, Voxx, Sony, Residential Schools, Zonolite and various other cases. Tony Merchant is known to be one of Canada's most active litigators with more than 600 reported cases in leading Caselaw Journals, having argued thousands of cases before the Canadian and American Courts, in Trial and Administrative Courts, and the Courts of Appeal of various American and Canadian jurisdictions, the Federal Court of Canada, and the Supreme of Canada. E.F. Anthony Merchant, Q.C. has a long history in pursuing public policy cases and is a former Member of Legislative Assembly.
People eligible to participate in this class action should provide their contact information on line at http://www.merchantlaw.com/classactions/creditcards.php, of call or call Merchant Law at 1-800 Lawyers for further information.
A copy of the Statement of Claim and recent articles on the issue can be obtained and downloaded from the following link:
For further information contact Tony Merchant, Q.C. at 306 359 – 7777
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Tags:law lawyer mastercard consumer rights class action VISA classaction merchant law tony merchant billions maars the law net maars lawnet
Published On:July 24, 2012
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