Portfolio Recovery Unit CCB Offers Help on Claims in $7.25 Billion Credit Card Settlement

Claims Compensation Bureau, LLC (CCB), which pioneered the class action claim filing industry more than 16 years ago, is prepared to help merchants maximize their claims to the $7.25 billion Visa and MasterCard class action settlement through CCB’s comprehensive claim filing and purchasing services.

The $7.25 billion antitrust settlement, the largest in history, includes more than $6 billion to compensate merchants as well as a temporary reduction in fees paid. It resolves claims that Visa, MasterCard and more than a dozen of the nation’s largest credit card issuers conspired to restrain competition by illegally charging higher interchange fees for credit card transactions. Any merchant that accepted one or more of these credit cards may be eligible to recover funds.

“CCB is an industry leader in class action claim filings,” said CCB’s president and founder, Brad Heffler. “With billions of dollars available, merchants need to take advantage of every available resource to recover the funds to which they are entitled. CCB has the necessary experience and institutional knowledge to allow merchants to maximize their recoveries in this class action settlement.”

CCB offers several options to enable merchants to recover claims:

• Class Action Claims Servicing Solution. While all claimants have the right to file their own claims, class action claim filing can be complicated. By utilizing CCB’s industry-leading outsourced claims filing process, merchants incur no upfront costs, recover the maximum value of their claims, and are able to concentrate on their core business without worrying about the intricacies of monitoring and filing claims.

• Class Action Claims Buyout Solution. Potential recovery amounts from class action settlements are highly unpredictable, and it often takes years before companies realize any value. CCB can solve this issue by purchasing merchants’ claims. This provides merchants a hedge against the possibility of lower than expected payouts or lengthy delays in payouts, allowing them to realize immediate monetary value.

Class action claimants who are interested in taking advantage of CCB’s services are encouraged to contact Brad Heffler, CCB’s president, at 610-834-9010.

Founded in 1996, CCB pioneered the industry of filing securities class action claims on behalf of institutional investors. Its securities clients are some of the largest financial companies in the world including hedge funds, investment banks, asset management firms and mutual funds. Its non-securities clients include Fortune 500 companies in a wide variety of industries. CCB has filed claims totaling more than $10 billion for its client base of more than 525 companies. CCB is a subsidiary of Portfolio Recovery Associates, Inc. (NASDAQ: PRAA).