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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
A settlement has been reached in a class action lawsuit that alleges that certain credit cards issued by American Express Centurion Bank and American Express Bank FSB with a fixed interest rate were improperly changed to a variable interest rate.
If you had an American Express card with a fixed interest rate and you received a notice of a rate increase or a change to a variable rate between Oct. 1, 2005 and Dec. 31, 2010, you may be eligible for benefits from the AmEx interest rate class action settlement.
According to the AmEx class action lawsuit, the interest rate on credit cards issued by American Express with a fixed interest rate could not be increased or changed to a variable interest rate unless the account was delinquent or in default.
However, the plaintiffs claim that they were charged a higher interest rate after they incurred a balance on their AmEx cards.
The plaintiffs assert claims against AmEx for violations of the federal Truth in Lending Act, California’s Unfair Competition Law and breach of the covenant of good faith and fair dealing.
AmEx denies any wrongdoing but agreed to settle the interest rate class action lawsuit to avoid the expense and distraction of litigation. AmEx has agreed to pay up to $6 million to resolve the litigation.
The American Express APR class action settlement was preliminarily approved on Feb. 16, 2016.
Who’s Eligible
Class Members of the AmEx settlement include all persons and entities in the United States who had a consumer or small business AmEx credit card or charge account with American Express Bank FSB or America Express Centurion Bank and:
- Had a fixed annual percentage rate on the account that was increased or changed to a variable rate between Oct. 1, 2005 and Dec. 31, 2010; or
- Had a fixed annual percentage rate on the account and were provided notice of an increase in the fixed rate or a change from a fixed rate to a variable rate between Oct. 1, 2005 and Dec. 31, 2010.
Potential Award
$32.50 (estimated)
The actual amount of money each Class Member receives depends on the total number of timely and valid claims that are filed.
Proof of Purchase
N/A
Claim Form Deadline
08/30/2016
Case Name
Alfredo M. Lopez, et al. v. American Express Bank FSB, et al., Case No. 2:09-cv-07335-SJO-MAN, in the U.S. District Court for the Central District of California, Western Division
Final Hearing
10/17/2016
UPDATE: On October 17, 2016, the court granted the American Express Interest Rate settlement final approval.  Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
UPDATE 2:Â According to the settlement website, account credits were issued on June 20, 2017. Â Claimants that no longer have a current American Express account will be issued a Settlement check in July, 2017.
UPDATE 3: On Aug. 7, 2017, Top Class Actions viewers who filed valid claims for the American Express interest rate class action settlement began receiving checks worth as much as $117.33.
Settlement Website
Claims Administrator
Lopez v. AMEX Settlement Administrator
P.O. Box 3747
Portland, OR 97208-3747
1-877-803-8698
info@APRSettlement.com
Class Counsel
Marc R. Stanley
STANLEY LAW GROUP
Michael D. Braun
BRAUN LAW GROUP PC
Defense Counsel
Julia B. Strickland
STROOCK & STROOCK & LAVAN LLP
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34 thoughts onAmerican Express Interest Rate Class Action Settlement
Any update on this one?
Any update as of today’s date 12/6/16 ?
There were not any appeals filed, which is great news! The settlement states that within 60 days or two complete billing cycles of the Effective Date (approximately November 18, 2016), account credits will be issued. Checks will also be mailed to claims not paid via account credit. This means that the settlement is estimated to pay out sometime at the end of January. Let us know when you receive your account credit or check!
Appeals period ended yesterday 11/17/16. Was there an appeals filed?
UPDATE: On October 17, 2016, the court granted the American Express Interest Rate settlement final approval.  Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
Final hearing was 10/17. Any update?
The court granted the settlement final approval on 10/17/16. There is a 30 day period after the final approval in which appeals can be filed. Please keep checking Top Class Actions for updates. We will let our viewers know if any appeals are filed!
What if I had more than one Amex card? File separate claims?
american express card cancelled in 2010- don’t remember card #
Is your Bank of America ( American Express card is this eligible for law suit ? ) anyone know ?
I had a amax from 2000-2007 I believe I qualify for this settlement but I do not know the last 5 digits of the card. Can anyone tell me where I can obtain this info? I no longer have my statements
i dont qualify