ADVFN - Advanced Financial Network.
HOME» NYSE » C » C Stock Price » C Stock News

Citigroup Share News

 Citigroup Stock Price
C Stock Price
 Citigroup Stock Chart
C Stock Chart
 Citigroup Stock News
C Stock News
 Citigroup Company Information
C Company Information
 Citigroup Stock Trades
C Stock Trades

U.S. Appeals Court Rules for Big Banks in ATM-Fee Case

By Alan Zibel and Andrew R. Johnson WASHINGTON--A U.S. appeals court Thursday ruled in favor of major banks that charge ATM fees to cardholders who withdraw money from machines owned by other banks. The 9th U.S. Circuit Court of Appeals, ruling in a case filed in July 2004, accusing Bank of America Corp. (BAC), Wells Fargo & Co. (WFC), J.P. Morgan Chase & Co. (JPM) Citigroup Inc. (C) and other banks with fixing those fees. The court, however, found consumers who contested those fees did not have legal standing to do so. The court, in a ruling by Judge N. R. Smith, found that a fee that banks charge each other for such transactions was not directly passed on to customers. The plaintiffs in the case "concede that they have never directly paid" the fees in question, Smith wrote, in an opinion that upheld a lower court's ruling that the consumers filing the lawsuit paid the fees indirectly and did not have standing to challenge the fees. Last October several independent ATM operators and consumers sued Visa Inc. (V), MasterCard Inc. (MA), Bank of America Corp. (BAC), J.P. Morgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC) in federal court over ATM fee policies. They argue that Visa and MasterCard rules requiring ATM operators to charge the same amount of fees regardless of which processing network handles a transaction has stifled competition among ATM operators and raised costs for consumers. A hearing on the defendants' motions to dismiss the suits is scheduled for September, according to court filings. Write to Alan Zibel at alan.zibel@dowjones.com

Stock News for Citigroup (C)
DateTimeHeadline
09/01/201509:57:22Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/01/201509:53:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/01/201509:00:00Citi Aims to Raise $1 Million by Year-end in Support of No Kid...
08/31/201519:40:00Forever 21 Rethinks Its Love of Giant Stores
08/31/201514:15:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/31/201513:56:23Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/31/201513:40:00Russia, Venezuela to Discuss Potential Steps to Stabilize Oil...
08/31/201512:50:00Oil Prices Rally
08/31/201504:00:00Iliad Lifted by New Mobile Clients
08/28/201515:56:55Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201515:26:23Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201514:39:34Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201514:36:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201514:16:28Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201513:54:03Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201512:38:41Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201512:24:13Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
08/28/201512:23:48Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201512:15:49Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/28/201510:55:03Free Writing Prospectus - Filing Under Securities Act Rules 163/433...

Citigroup and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad