Visa and MC will pay $336 million

Visa and MasterCard have agreed to pay $336,000,000 to “settle a class-action lawsuit alleging the credit card firms shortchanged US consumers in foreign currency transactions.”

MasterCard International said in a filing with the Securities and Exchange Commission that its portion of the settlement was 72.48 million dollars and will be used to pay claims by eligible cardholders and other expenses.

The agreement must be approved by a federal court in New York, the filing said.