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Leawood approves retention to file claim in Visa/Mastercard settlement, directs staff to seek lower fee
Summary
Council voted unanimously to authorize the city to retain counsel to file a claim in the Visa/Mastercard interchange-fee class-action settlement, directing staff to attempt to negotiate a lower contingency fee than the proposed 25% and to file an initial claim if negotiations cannot be completed before the filing deadline.
The Leawood governing body voted unanimously to authorize the city to retain Myers Longhofer to file a claim in a national class-action settlement involving Visa and Mastercard interchange fees, while directing staff to try to negotiate a more favorable contingency-fee arrangement.
City legal staff, represented by Miss Bennett, summarized the settlement as a court-approved class action with a total fund of about $5.6 billion covering transactions from Feb. 2005 through Feb. 2019. She said any person…
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