NEW YORK (PIX11) -- Discover has agreed to a $1.225 billion settlement to resolve claims it misclassified certain credit cards as commercial cards.

The lawsuit alleges the misclassification resulted in some businesses being charged excessive fees.

The settlement includes businesses and merchants involved in processing or accepting a misclassified card transaction between Jan. 1, 2007, and Dec. 31, 2023.

Class members can receive a cash payment depending on the amount they overpaid in fees as a result of the misclassification.

Discover has not admitted to any wrongdoing.

Class members must submit a valid claim form by May 18, 2026.

The final approval hearing for the settlement is May 20, 2026.

Ben Mitchell is a digital content producer from Vermont who has covered both local and inte

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