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

Date:

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.

spot_imgspot_imgspot_img

Share post:

More like this
Related

Man Accused of Running Chinese Police Station in NYC Admits Working for CCP, Prosecutors Say

Lu Jianwang, accused of operating a secret police station...

Hotel Bookings Fall Below Expectations in US World Cup Host Cities

A view of MetLife Stadium ahead of the 2026...

Eli Lilly Announces $4.5 Billion in Indiana Expansion

The headquarters campus of Eli Lilly and Company in...

Tesla Recalls Nearly 219,000 Vehicles Over Rearview Camera Display Delay

A Tesla Model Y car is presented at the...