Supreme Court Grants Consumers Standing in ATM-Fee Lawsuit
The U.S. Supreme Court on Nov. 17 ruled in favor of allowing an antitrust class-action lawsuit against Mastercard, Visa and their bank partners proceed after a lower court ruled that the consumer plaintiffs had no standing, according to a Reuters report.
The dispute revolves around smaller ATM operators being prohibited “from charging debit-card customers lower fees when payments were routed through smaller competing payment networks,” according to the Los Angeles Times. “Operators that could have used cheaper networks instead had to charge customers the same access fees across the board because of rules adopted by Visa, Mastercard, Bank of America, Wells Fargo and the other defendants.”
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