Supreme Court agrees to review ATM fee antitrust lawsuit
Source: Reuters
The U.S. Supreme Court on Tuesday agreed to hear appeals by Visa Inc, Mastercard Inc and several U.S. banks seeking to throw out lawsuits claiming they conspired to inflate the prices of ATM access fees in violation of antitrust law.
The high court will hear the companies' bid to overturn an August 2015 ruling by the U.S. Court of Appeals for the District of Columbia Circuit that revived three related class action lawsuits.
The appeals court said a district court erred when it concluded that consumers had no standing to sue and had not adequately alleged antitrust violations. It remanded the three consolidated lawsuits to the district court for further proceedings.
The decision revived two class action suits brought by consumers and another one brought by independent ATM operators.
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Read more: http://www.reuters.com/article/us-usa-court-antitrust-idUSKCN0ZE1NA
Money | Tue Jun 28, 2016 10:32am EDT
WASHINGTON | BY LAWRENCE HURLEY
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