We know it can be a confusing journey so we have gone ahead and compiled a list of the most frequently asked questions from our clients to get you started!
Disclaimer: Class members need not sign up for a third-party service, such as Sagemont Services, in order to participate in any monetary relief from the settlement. No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period.
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.
The settlement fund totals approximately $1.2 billion, allocated for merchants harmed by these misclassifications.
Eligible participants include end merchants, merchant acquirers, and payment intermediaries who processed Discover transactions between January 1, 2007, and December 31, 2023.
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.
You may need to supply transaction records showing interchange fees paid, merchant category codes, transaction volumes, and total sales.
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.
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.
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.
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.
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.