Visa, Mastercard to Pay $167.5 Million to Settle ATM User Fee Lawsuit

Several Visa and Mastercard credit cards are shown in Buffalo Grove, Ill., on Feb. 8, 2024. Nam Y. Huh/AP PhotoVisa and Mastercard have agreed to pay a total of $167.5 million to settle a class action lawsuit filed in 2011, concluding the 14-year-old case, according to a Dec. 18 court filing.According to documents filed in the U.S. District Court for the District of Columbia, the class action plaintiffs alleged that both Visa and Mastercard participated in an “unlawful conspiracy to restrain trade” that involved the setting of surcharges by independently owned, nonbank ATMs, resulting in higher ATM access fees for consumers.