Visa and Mastercard agree to pay $197 million to settle class action lawsuit over inflated ATM fees since 2007.
Visa and Mastercard have agreed to pay $197 million to resolve a class action lawsuit by millions of consumers who accused the payment companies of artificially inflating ATM cash access fees since 2007. The settlement, which is subject to court approval, involves consumers who withdrew cash from bank-operated ATMs. Visa will pay $104.6 million, Mastercard $92.8 million, and the bank defendants $66 million.
May 29, 2024
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