Key points:
- Visa and Mastercard finalize a $197.5 million settlement over inflated ATM fees.
- Attorneys' fees awarded at $49.4 million, less than the original $60 million request.
- The settlement ends litigation dating back to 2011 and caps an antitrust case involving fee-fixing accusations.
Visa Inc. and Mastercard Inc. have reached a $197.5 million settlement, concluding a protracted antitrust lawsuit that accused the companies of inflating ATM fees. ([news.bloomberglaw.com](https://news.bloomberglaw.com/banking-law/visa-mastercard-get-approval-of-198-million-deal-in-atm-case?utm_source=openai))
The settlement, approved by Judge Richard J. Leon of the U.S. District Court for the District of Columbia, addresses claims that the payment networks conspired to maintain artificially high ATM access fees, thereby restraining competition. ([news.bloomberglaw.com](https://news.bloomberglaw.com/banking-law/visa-mastercard-get-approval-of-198-million-deal-in-atm-case?utm_source=openai))
The litigation, initiated in 2011, alleged that Visa and Mastercard's network rules prevented independent ATM operators from offering lower fees, leading to higher costs for consumers. ([theguardian.com](https://www.theguardian.com/business/2025/dec/19/visa-mastercard-atm-fees-lawsuit-settlement?utm_source=openai))
As part of the settlement, Visa will contribute approximately $104.6 million, while Mastercard will pay about $92.9 million. ([beyondspx.com](https://www.beyondspx.com/quote/V/news/visa-and-mastercard-settle-atm-fee-class-action-for-1975-million?utm_source=openai))
The court also awarded $49.4 million in attorneys' fees, a reduction from the nearly $60 million initially requested by the plaintiffs' legal team. ([news.bloomberglaw.com](https://news.bloomberglaw.com/banking-law/visa-mastercard-get-approval-of-198-million-deal-in-atm-case?utm_source=openai))
This resolution follows a series of related settlements, including a $66.7 million agreement in 2022 with major banks such as Bank of America, JPMorgan Chase, and Wells Fargo, who were also implicated in the alleged fee-fixing scheme. ([hbsslaw.com](https://www.hbsslaw.com/cases/visa-mastercard-atm?utm_source=openai))
Visa and Mastercard have consistently denied any wrongdoing, stating that the settlement was reached to avoid the costs and uncertainties associated with prolonged litigation. ([beyondspx.com](https://www.beyondspx.com/quote/V/news/visa-and-mastercard-settle-atm-fee-class-action-for-1975-million?utm_source=openai))
This case is part of a broader pattern of antitrust litigation faced by Visa and Mastercard, including disputes over interchange fees and merchant discount rates. ([en.wikipedia.org](https://en.wikipedia.org/wiki/Payment_card_interchange_fee_and_merchant_discount_antitrust_litigation?utm_source=openai))
The settlement is expected to provide compensation to millions of consumers who paid unreimbursed ATM access fees since October 2007. ([onlyclassactions.com](https://onlyclassactions.com/lawsuits/how-to-claim-part-of-the-dollar-198-million-atm-surcharge-settlement?utm_source=openai))
Eligible consumers are encouraged to submit claims to receive their share of the settlement fund, with specific deadlines and procedures outlined in the settlement agreement. ([lawinc.com](https://www.lawinc.com/visa-mastercard-atm-fee-settlement?utm_source=openai))
This resolution marks a significant development in the ongoing scrutiny of fee structures within the payment card industry, highlighting the importance of competitive practices and transparency in financial services.