$167.5 Million Settlement Proposed in Class Action Against Visa and Mastercard Over ATM Surcharges
A proposed $167.5 million class action settlement has been announced against Visa Inc., Visa U.S.A. Inc., Visa International Service Association, Plus System, Inc., Mastercard Incorporated, and Mastercard International Incorporated for alleged antitrust violations related to independent ATM surcharges. The lawsuit claims that the companies' operating rules prevented IATM operators from offering discounted access fees based on transaction costs across competing networks, leading consumers to pay higher fees. Visa and Mastercard have denied wrongdoing in these allegations. The settlement is tied to a case known as Burke v. Visa Inc., with related lawsuits also ongoing. Eligible class members are those who withdrew cash at non-bank ATMs between October 24, 2007, and August 14, 2026, in the U.S. or its territories and were charged a surcharge not reimbursed by their bank. Claims must be submitted by February 10, 2027.
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Topics: antitrust ATM fees Mastercard Visa