BofA, Wells Fargo, JPM Sued Over ATM Fees

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued for allegedly colluding to fix the fees paid by consumers for access to automated teller machines.

The antitrust suit, brought in federal court in Washington by an ATM user and made public today, also names Visa Inc. and MasterCard Inc., the world’s biggest payment networks, as defendants. It’s the third lawsuit filed in Washington in the past week alleging price-fixing of ATM fees and surcharges.

Continue reading...