Credit Card Firm Cal To Pay $1.1 Million in Consumer Class Action Settlement

Credit card company Cal is set to pay NIS 4 million (approximately $1.1 million) to customers as part of a settlement in a class-action lawsuit. The lawsuit alleged that Cal failed to clearly inform customers about the end of a benefit related to card fees.

The settlement, approved by the court, requires Cal to notify its customers clearly about the termination of such benefits in the future. The core of the dispute was the company's communication regarding the cessation of a fee reduction or waiver, which customers believed they were entitled to continue receiving.

This resolution aims to compensate affected customers and establish clearer communication protocols for Cal regarding benefit changes. The company will bear the cost of the settlement, which is intended to resolve the claims without further legal proceedings.