15:00 – 16:00 GMT (London) Olann Kerrison, Head of Analysis & Content, Lafferty Group, London
Duncan MacDonald, Former General Counsel for Cards Europe & North America, Citibank, New York
$197 (plus 15 percent VAT for UK residents) per participant
All webinar participants will receive a recording of the entire webinar
with optional download.
Having smouldered in the background for several years, the US merchant class action on credit card interchange is looming closer to its endgame. The action has already shaped the structure of the major international card networks, but how will this endgame play out and what does it mean for the cards industry, both in the US and beyond?
Fighting the litigation in front of a jury raises serious judicial risks, and also boosts the potential monetary penalty should the defence be unsuccessful. Settling the litigation may reduce judicial risk, but the cost of doing so has been estimated as high as $10 to $15 billion.
The most complex commercial settlement negotiation in US history – involving thousands of issuers, millions of merchants, hundreds of millions of cardholders and trillions of transactions – raises many fundamental questions. On 16 December 2009 (3pm London time/10am New York time), Lafferty Group will host a webinar to address these questions, and provide a forum for discussion. Duncan MacDonald, formerly general counsel for Citibank Cards in the US & Europe, will be on hand to provide his views on the litigation, how it will affect the industry, and also to answer attendees’ queries.
TOPICS FOR DISCUSSION:
Background to the class action lawsuit
Judicial and legislative risks
Potential ramifications and timelines
How much will it cost?
What does it mean for the networks worldwide?
TO REGISTER FOR THIS WEBINAR:
A fee of $197 (plus 15 percent VAT for UK residents) is payable for each webinar participant.
Once you have registered you will receive a confirmation email outlining how to join the event.
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Lafferty Group is dedicated to providing the highest standards of insight, objectivity and market intelligence to leaders in the worldwide retail banking, cards and personal financial services industry. From its origins in financial industry newsletters and conferences more than 25 years ago, Lafferty Group has continually evolved its service offerings to ensure that clients receive cutting-edge research and advice that enables them to better manage their business in an increasingly complex, competitive and fast-moving environment. The group's comprehensive service offer includes: Webinars, Conferences, Global Cards and Consumer Finance Research, Newsletters, Councils, Trade Association Management and Bespoke Research & Advisory Services.
