The U.S. Supreme Court on Tuesday agreed to hear an antitrust case that accuses Visa Inc., MasterCard Inc. and three major banks—Bank of America, Chase and Wells Fargo—of conspiring to inflate ATM access fees.
Operators and users of independent ATM machines claim Visa and MasterCard, which run ATM networks, and the banks illegally control how much the ATM operators charge consumers for access. The plaintiffs say that the defendants conspired to adopt and enforce rules that prevent operators from charging consumers lower fees for getting cash via competitor ATM networks.
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