Visa, Mastercard agree to pay combined $167.5m in ATM fee lawsuit

Visa and Mastercard have agreed to a combined payment of $167.5m to resolve a class action lawsuit concerning ATM access fees. The proposed settlement was submitted to a federal court in Washington, US, and awaits judicial approval, reported Reuters. The settlement is intended to benefit potentially millions of individuals who paid unreimbursed access fees for cash withdrawals at independent, non-bank automated teller machines (ATMs). Visa is set to provide around $88.8m, while Mastercard will contribu ...