Supreme Court to Hear Case on ATM Fees
June 28 2016 - 10:43AM
Dow Jones News
By Brent Kendall
WASHINGTON -- The Supreme Court on Tuesday agreed to consider an
appeal by Visa Inc., MasterCard Inc. and several leading banks that
are challenging lawsuits alleging they conspired to set
anticompetitive ATM fees.
The case was one of eight new matters the court added to the
docket for its next term, a move that will help give the court's
upcoming calendar more heft. The court has been operating with
eight members since the February death of Justice Antonin Scalia,
leading to a dynamic where it has been slow to take new cases and
shied away from potential blockbusters.
Other cases added to the docket for the next term, which begins
in October, examine issues including mortgage loans, citizenship
and international law.
The ATM case comes from litigation where consumers and
independent ATM operators, in a 2011 lawsuit, targeted ATM access
fee rules that prevent operators from charging lower fees for
banking transactions processed on networks that cost less than Visa
and MasterCard.
The plaintiffs allege banks including Bank of America Corp.,
J.P. Morgan Chase & Co. and Wells Fargo & Co. agreed to the
ATM restraints when Visa and MasterCard were owned as joint
ventures by the banks. The bank card associations went public in
2008 and 2006, but the plaintiffs say the substance of the
agreed-upon ATM rules remains in place.
A Washington, D.C., appeals court revived the lawsuits last year
after a trial judge previously ruled the allegations weren't strong
enough to proceed. The Supreme Court will review that ruling.
Write to Brent Kendall at brent.kendall@wsj.com
(END) Dow Jones Newswires
June 28, 2016 10:28 ET (14:28 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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