Lawsuit Filed against Visa and MasterCard for Conspiring to Inflate ATM Fees

by Admin on December 6, 2016

Suit seeks damages from Visa, MasterCard and ATM operators for violating the antitrust laws

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Fortune reports that The US Supreme Court has given the green light to class action lawsuits by consumers who claim that Visa and MasterCard along with several other banks of  colluding to increase ATM access fees violating the antitrust law.

The lawsuit states that Visa and MasterCard were adopting rules that blocked ATM operators from lessening ATM transaction fees by payment processing network competitors.

Thailand based probate and inheritance lawyers specialize in helping clients recover estate assets in case of a death in the family  

The suit also claims that US banks such as Bank of America, Wells Fargo and JPMorgan Chase were benefiting from the rules. The suit says that the banks controlled the networks and increased ATM fees before the companies became public.

Read more here

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