UK Supreme Court allows $18.5 billion class action against Mastercard to proceed

Mastercard credit cards
Roberto Machado Noa/ LightRocket via Getty Images

A 14 billion pound ($18.5 billion) class action against Mastercard for allegedly overcharging more than 46 million people in Britain over a 15-year period was on Friday shown the green light by the U.K. Supreme Court.

The judgment, that upholds last year's Court of Appeal decision, sets the scene for Britain's first mass consumer claim brought under a new legal regime and offers guidance for a string of other class actions that have been stalled in its wake.