$167 Million Visa Mastercard Settlement Awaits Consumer Claims

Millions of US consumers who paid fees to use independent ATMs may be eligible for a share of a proposed $167 million settlement involving Visa and Mastercard.

The settlement emerged from a class-action lawsuit alleging that the payment networks' rules prevented independent ATM operators from charging lower fees when transactions could be routed through competing networks.

Visa and Mastercard deny the allegations and have agreed to settle the case without admitting wrongdoing or liability.