FAQs

What is the settlement about?

The lawsuit alleges Discover misclassified millions of consumer credit cards as commercial accounts between 2007 and 2023, resulting in higher interchange fees charged to merchants.

How much is the settlement worth?

The settlement fund totals approximately $1.2 billion, allocated for merchants harmed by these misclassifications.

Who can file a claim?

Eligible participants include end merchants, merchant acquirers, and payment intermediaries who processed Discover transactions between January 1, 2007, and December 31, 2023.

How do I submit a claim?

Detailed instructions, including documents needed and filing dates, will be provided once the court grants final approval. Notice and claims forms are anticipated around September–October 2025.

What documentation will be required?

You may need to supply transaction records showing interchange fees paid, merchant category codes, transaction volumes, and total sales.

Do I have to pay to file a claim?

No. There is no cost to submit a claim. Third-party firms may offer assistance for a fee, but filing independently as a class member is free.

Can I exclude myself or object?

Yes. You may opt out if you do not wish to participate or object if you disagree with the settlement terms. Instructions and deadlines will be provided in the court-authorized notice.

When will payments be made?

No timeline has been finalized, but payments generally follow after the claims review process once final approval is granted. Distributions could take several months after filing closes.

What is the impact of the FDIC and Federal Reserve action?

Regulators concluded Discover misclassified consumer cards for 17 years, overcharging merchants by more than $1 billion. Discover was fined, and the settlement does not absolve other regulatory actions.

Where can I find more info?

Visit the official Discover Merchant Settlement website or consult court-authorized updates. You can refer to ongoing legal updates on reputable information sites tracking claims and deadlines.