Mastercard Inc. has agreed in principle to settle a class action lawsuit in the UK for around £200 million ($254 million).

The lawsuit, brought by Walter Merricks, the former head of the UK’s Financial Ombudsman Service, represented approximately 46 million consumers and sought damages of at least £10 billion, potentially making it the largest claim of its kind.

Mastercard has faced significant legal challenges over allegations of fee overcharging, which could have had serious financial consequences for the company. The settlement of this lawsuit is expected to relieve some of the legal pressures on Mastercard while addressing the concerns of millions of affected consumers.