Credit Cards: 3.5.5. Litigation

Both MasterCard and Visa have paid approximately $3 billion in damages resulting from a class-action lawsuit filed by Hagens Berman in January 1996. The litigation cites several retail giants as plaintiffs, including Wal-Mart, Sears Roebuck & Company, and Safeway.

Card

Bank card
In general, a bank card refers to a plastic card issued by a bank and used to access funds from an account, such as:
• ATM card, a plastic card linked to one or many accounts, primarily for ATM usage but also useable at branches. An ATM card also useable for making payments at merchants is often called a debit card.
• Credit card, a plastic card attached to a revolving credit line.
• Debit card, a plastic card linked to a bank account.

Major credit cards
MasterCard, Visa, American Express, Japan Credit Bureau (JCB), Discover, Diners Club, China UnionPay

Major debit cards
Maestro (Switch, Solo), Visa Debit (Delta, Connect), Visa Electron, PagoBancomat, Carte Bleue, China UnionPay, Dankort, Girocard (EC), Laser, Interac

Specialty card
Centurion

Defunct cards
Access, Bankcard, Carte Blanche, Choice, enRoute, Eurocard, Everything

See also
Credit card fraud, Interbank network, Automated teller machine (ATM), Magnetic stripe card, Smartcard

Credit Cards

3.5.5. Litigation

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