Story perspectives

Visa and Mastercard Settle $167.5M ATM Fee Lawsuit

12/20/2025

Summary

Story summary

Visa and Mastercard agreed to a $167.5 million settlement in a class action in Washington.
The suit accuses them of conspiring to keep ATM fees high since October 2007.
The settlement requires judicial approval, with a third related case pending.
Visa will contribute $88.8 million and Mastercard $78.7 million, with both denying wrongdoing.
Plaintiffs may seek up to 30% of the fund, about $50 million, in legal fees.

History

Historical Context

The Electronic Fund Transfer Act, enacted by the U.S. Congress in 2007, aimed to regulate ATM fees and enhance consumer protection. Visa and Mastercard's recent $167.5 million settlement over collusion to maintain high ATM fees highlights ongoing scrutiny of financial institutions. This case reflects historical consumer protection efforts and may influence future regulations in the banking sector, impacting how fees are structured for millions of users.

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Story summary

Visa and Mastercard agreed to a $167.5 million settlement in a class action in Washington.
The suit accuses them of conspiring to keep ATM fees high since October 2007.
The settlement requires judicial approval, with a third related case pending.
Visa will contribute $88.8 million and Mastercard $78.7 million, with both denying wrongdoing.
Plaintiffs may seek up to 30% of the fund, about $50 million, in legal fees.

1 / 2