"This was almost an invisible tax," Walter Merricks , who is bringing the case, told the BBC. "Mastercard has behaved disgracefully in this. They have not had the reasonableness to accept that what this was doing was damaging UK consumers. "Mastercard said in a statement it denied any wrongdoing. They have paid 24 billion pounds in compensation for mis-selling loan payment insurance , making it Britain's costliest scandal in financial services.Consumers no longer living in Britain, but who lived in the country between 1992 and 2008, can opt in to the collective claim against Mastercard.Any hearing on the case is not expected until early 2018, unless MasterCard settle it out of court.

Source: Economic Times September 09, 2016 09:00 UTC