Non-Bank Operators of ATM Terminals File Class Action Lawsuit Complaint Against Visa & Mastercard Over ATM Access Fees.
A class action lawsuit has been filed against Visa Inc., Visa USA, Inc., Visa International Association and Plus System, Inc. (“Visa”), Mastercard Incorporated and Mastercard International Incorporated d/b/a MasterCard Worldwide (“Mastercard”) (collectively “Defendants”) in the United States District Court for the District of Columbia alleging, among other things, that Visa and MasterCard fixed the prices for automated teller machine (“ATM”) services, supressed competition between ATM networks and constrained operators of ATMS from excercising autonomous judgment in their business decision, purportedly in violation of the Sherman Act, 15 USC section 1, according to the Visa & Mastercard ATM Access Fee Antitrust class action lawsuit complaint.
The Visa & Mastercard ATM Access Fee Antitrust class action lawsuit complaint is reportedly brought on behalf of a putative class consisting of the following persons, unless otherwise excluded:
All non-bank operators of ATM terminals, including registered ISOs and their affiliates, that operate ATM terminals located in the relevant geographic market (the 50 states of the United States and its districts and territories) with the discretion to determine the price of the ATM access fee for the terminals they operate and that have adhered to the defendants’ ATM restrains in transactions they have completed at any time on or after October 1, 2007 (“independant ATM operators”).
If You Have Thoughts On The Visa & Mastercard ATM Access Fee Antitrust Class Action Lawsuit, Share Your Class Action Comments Below.
Having spent many weeks traveling by car over the years, I have first-hand experience with these non-bank owned ATM fees. True, they do tell you what the fee is, but sometimes you really don’t have much choice—you’re at a travel stop on a turnpike, etc. Sometimes you take little tours all over town to find a bank only to discover they are out cash for the weekend. The fees may not seem like much but it definitely adds up. The other option is to travel with a wad of cash. Not smart. I have been gouged by these greedy guys for too long. If they won’t police themselves, it’s time they are compelled to be fair.