Visa, Mastercard to Pay $167.5 Million to Settle ATM User Fee Lawsuit
The Epoch Times
Visa and Mastercard will pay $167.5 million to settle a 2011 lawsuit alleging inflated ATM fees due to an unlawful conspiracy.Summary
Visa and Mastercard have reached a settlement of $167.5 million to resolve a class action lawsuit dating back to 2011. The lawsuit, filed in the U.S. District Court for the District of Columbia, claimed that Visa and Mastercard engaged in an “unlawful conspiracy to restrain trade” concerning surcharge fees imposed by independent, nonbank ATMs. Plaintiffs alleged this collusion resulted in higher ATM access fees for consumers. The Dec. 18 court filing marks the conclusion of the 14-year-old case, bringing financial relief to those affected by the alleged fee manipulation.
(Source：The Epoch Times)