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A US law firm, Milberg Coleman Bryson Phillips Grossman, has admitted to unknowingly filing fraudulent claims in a $5.6 billion antitrust settlement with Visa and Mastercard. The firm expressed embarrassment and committed to strengthening its review process. The settlement involves a class of 12 million retailers who accused Visa and Mastercard of improperly fixing credit card fees. In a related case, Visa and Mastercard have agreed to pay $197.5 million to settle a class action by consumers accusing the companies of colluding to control ATM prices and limit competition. The $197 million settlement was filed in Washington, D.C.
Visa and Mastercard 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. https://t.co/lwrf0u3CTE
A pair of Visa and Mastercard consumers asked a Washington, D.C., federal judge Wednesday to greenlight a $197.5 million class settlement that would resolve claims that the credit card companies conspired with major banks to fix ATM access fees. https://t.co/AACe8Bw3KI https://t.co/rra6P3PEv3
Visa and Mastercard are paying out hundreds of millions to settle a class action suit accusing them of colluding to control ATM prices and limit competition. So far the companies have agreed to pay $264.24 million. https://t.co/IWG97dSWKq
