American Express Settles $17.5 Million Antitrust Class Action Over Anti-Steering Rules
American Express Company has agreed to a $17.5 million class action settlement to resolve allegations that it violated federal antitrust law by imposing anti steering rules that prevented merchants from encouraging customers to use competing payment networks. The settlement, filed in the U.S. District Court for the Eastern District of New York as Moskowitz, et al. v. American Express Co., et al. (Case No. 1:19 cv 00566 NGG JRC), covers transactions made across nine U.S. states over a multi year period and offers cash payments to qualifying class members. The Anti Steering Allegation The lawsuit, which had been pending since January 2019, centers on a contractual practice long associated with American Express: the prohibition on merchants steering customers at the point of sale toward lower cost payment alternatives, such as Visa or Mastercard debit cards or cards that do not carry annual fees. Plaintiffs argued that these anti steering provisions forced merchants to absorb higher AmEx processing fees, and that to recover those costs merchants raised prices across all transactions, effectively making consumers who did not use AmEx cards pay more than they otherwise would have. The legal theory echoes concerns raised in the broader antitrust litigation over card network steering practices, including the landmark U.S. Supreme Court case Ohio v. American Express (2018), in which the Court ruled 5 4 in AmEx's favor on federal antitrust grounds but left open the question of whether state antitrust claims could proceed on different theories. Settlement Terms and Eligible Class Members American Express has not admitted any wrongdoing under the settlement terms. Eligible class members fall into two primary categories: holders of Visa or Mastercard debit cards who used those cards at qualifying merchants in covered states, and holders of non rewards, no annual fee Visa, Mastercard, or Discover general purpose credit or charge cards who made purchases from qualifying merchants in the District of Columbia , Kansas , or Illinois during the covered period. Settlement Coverage at a Glance | Class | Eligible Payment Types | Covered States | Transaction Period | | | | | | | Debit Card Class | Visa or Mastercard debit cards | AL, DC, IL, KS, ME, MS, NC, OR, UT | Jan. 29, 2015 to June 1, 2022 | | Debit Card Class (extended) | Visa or Mastercard debit cards | KS, IL, MS | Jan. 29, 2016 to June 1, 2022 | | Non Rewards Credit Card Class | Visa, Mastercard, or Discover credit/charge (no rewards, no annual fee) | DC, KS, IL | Jan. 29, 2015 to June 1, 2022 | | Illinois Non Rewards Class | Same card types | IL | Jan. 29, 2016 to June 1, 2022 | | Settlement Fund | $17.5 million | All covered states | Claim deadline: May 19, 2026 | The precise amount each class member will receive has not been fixed; final payments will vary depending on the total number of valid claims submitted. Class members are required to provide their account or card number, if known, along with proof of a qualifying purchase. Key Dates and Legal Counsel The deadline for class members to exclude themselves from or file an objection to the settlement is April 29, 2026 . The deadline to submit a valid claim form for settlement benefits is May 19, 2026 . A final approval hearing before the U.S. District Court for the Eastern District of New York is scheduled for June 17, 2026 . Class counsel in the matter includes attorneys from Berman Tabacco , Gordon Ball PLLC , Stearns Weaver Miller , Kahn Swick and Foti , Lovell Stewart Halebian Jacobson , The Miller Law LLC , Stamell and Schager , Saltz Mongeluzzi and Bendesky , and Wagstaff and Cartmell . American Express is represented by Kirkland and Ellis LLP . Broader Context The settlement arrives at a moment when the interchange fee structures of major card networks are under broader scrutiny, both from the Citrini Research scenario paper published days earlier projecting AI led routing around interchange fees, and from ongoing legislative and regulatory debate in the United States and Europe over the costs merchants bear to accept card payments. For American Express, which operates an integrated model as both a card network and a primary issuer, the settlement resolves one thread of antitrust exposure without resolving the deeper competitive questions raised by structural changes in payment infrastructure. The claims administrator for the settlement is Amex Antitrust, care of A.B. Data Ltd., Milwaukee, Wisconsin, reachable at info@AmexAntitrust.com. References [1] Top Class Actions, "$17.5M American Express Antitrust Class Action Settlement," February 25, 2026. https://topclassactions.com/lawsuit settlements/open lawsuit settlements/17 5m american express antitrust class action settlement