Linda McGlasson reports:
A proposed settlement of the consumer class action suit brought against payments processor Heartland Payments System got preliminary approval from a U.S. District Court judge in late April. The proposed settlement would create a $4 million pool to pay consumers and settle the case.
In a “fairness hearing” on April 27, U.S. District Court Judge Lee Rosenthal heard from both sides of the class action suit. Several class action suits brought by consumers from around the country were collected into one case in September 2009. The case was heard in the Southern District U.S. Court in Houston, TX.
Read more on BankInfoSecurity.com. The article also provides an update on other Heartland-related litigation:
The financial institutions’ class action case against Heartland gained two more defendants, Heartland’s acquiring banks Key Bank and Heartland Bank. The suit brought against the two banks was consolidated into the class action suit brought against Heartland.