Visa Inc. and MasterCard Worldwide, sued last week by independent ATM operators over ATM fees the operators say violate federal antitrust laws, are the target of two new suits brought by consumers regarding their ATM charges.
One suit, filed Oct. 17 in federal court in Washington, claims the two payment card brands bar ATM operators from charging consumers different levels of fees depending on which card network processes their transactions. “The ATM restraints prevent ATM operators from offering their customers a discount or benefit for completing a transaction over a network that is less costly to the ATM operator, so consumers cannot be rewarded for using a lower cost and more efficient network,” the suit said.
In addition to Visa and MasterCard, several smaller electronic funds transfer networks offer consumers ATM access, including First Data Corp’s Star and Discover Financial Services’ Pulse.
A separate suit filed Oct. 19 in the same federal court, which also names Bank of America Corp., JPMorgan Chase &Co. and Wells Fargo & Co. as defendants, makes similar charges and claims the banks conspire to fix ATM fees.
Last week, the newly formed trade group for independent ATM operators, called the National ATM Council, filed a lawsuit against Visa and MasterCard claiming the companies’ rules amount to price-fixing (
