Thanks, AmEx?

In today’s mail I received a settlement check for $8.23, with the following footnote  –

“This check represents your pro-rata share of the Aggregate Net Settlement Fund created by the settlement approved by the U.S. District Court for the Southern District of New York in Robert Ross, et al., v. American Express Co., et al., combined with the residual funds from the Foreign Currency Fee Litigations Settlement Fund. The endorsement or deposit of this check acknowledges your receipt of all cash sums due to you from the distribution.”

Blah, blah, blah…

SettlementCheck

(Not my personal check above but it looked similar to this one…)

As you can see from the image above, that check is from 2011 and represents a settlement from all the credit card companies BUT AmEx. I think I remember getting a similar check in a similar amount but, heck, its been so long ago, who can remember? I mean, I can barely even remember being a part of the “litigants” (I think that is the word I want). I seem to recall that this whole action involved AmEx, VISA, MasterCard and Diners Club cards overcharging some currency exchange fee – something like double-dipping, I think – but who can say?

What I DO remember is that, at least for me, all the charges that could have been considered as part of the action occurred over a decade ago! I mean, really – not that I am ungrateful to have received this check equivalent to a free “Jimmie John’s Sub” lunch (including delivery and a bag of kettle chips!) but I guess the point of this whole rant is that I question how much time, effort and additional resources have been spent to award me probably $25 total a decade after the fact?

If you click the image above, it takes you to the CFF Settlement page where they mention more than 7.4 MILLION checks are being cut. 7.4 MILLION. If each one of those checks only averages $8, imagine the total amount being reimbursed. To be honest, I would have been infinitely more pleased and satisfied to know that AmEx and/or whomever had made huge, multi-million dollar donations to worthy charitable organizations. They need the money more than I need another turkey sub…

America. We legislate – and litigate – everything.

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