Visa, Mastercard Reach $198 Million Deal in ATM Antitrust Case

Visa Inc. and Mastercard Inc. agreed to pay $197.5 million in a preliminary settlement with ATM customers who accused the card processors of fixing the price of fees at automated teller machines.

The settlement, which was filed by plaintiffs on Wednesday and is subject to court approval, marks the end of litigation stretching back more than a decade. The accord follows a separate $66.7 million deal agreed to by JPMorgan & Chase Co., Wells Fargo & Co., and Bank of America Corp. in 2021 over similar allegations of fixing ATM prices.

“The proposed Settlement, if finally approved, will resolve all ...