have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high.
Two other related class actions – one from consumers who used non-bank ATMs and a third from businesses that own independent ATMs – are pending in D.C. federal court.Visa will pay $104.6 million in the accord, and Mastercard will pay $92.8 million, the settlement papers showed. The bank defendants earlier settled claims for $66 million.The plaintiffs’ attorneys said the settlement will “deliver immediate and assured relief.
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