Visa and Mastercard to Settle ATM Fee Lawsuit for $167.5 Million
Visa (V) and Mastercard (MA) have agreed to settle a class-action lawsuit over alleged excessive ATM fees charged at independent ATMs across the U.S., with a total settlement of $167.5 million. The case, Burke v. Visa Inc., spans nearly two decades from October 2007 to August 2026 and involves claims that cardholders were unfairly burdened by surcharges not fully reimbursed by their banks. The lawsuit alleges the companies violated antitrust laws by restricting independent ATM operators from using lower-cost rival networks, which could have led to reduced fees for consumers. The settlement does not admit liability but covers eligible claimants in several states including California, Illinois, Massachusetts, and Michigan. Payments will depend on the number of valid claims filed after administrative costs are deducted. Eligible individuals who used a Visa or Mastercard at non-bank ATMs during this period may receive compensation if they were charged surcharges not reimbursed by their banks. The deadline to file a claim is February 10, 2027, with payments expected after court approval in early 2027.
Tickers: $MA
Topics: antitrust ATM fees Mastercard settlement Visa