Friday, June 12, 2009
Banks Lose Quebec Lawsuits Over Credit-Card Currency-Conversion Fees
From The CBC:
Several financial institutions have been ordered to pay more than $200 million to Quebec credit-card holders who were charged fees for purchases made in foreign currencies.
Quebec Superior Court Judge Clément Gascon ruled Thursday that nine banks and the financial co-operative Desjardins were in “flagrant violation” of a provincial law because of the way they charged the foreign-exchange fees.
Read more ....
My Comment: The same ruling should also be on interac fees .... but unfortunately this is not the case.