This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Update:
- Final approval of this settlement was granted Aug. 8, 2022.
- Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
JP Morgan, Wells Fargo, and Bank of America agreed to settlements totaling more than $66 million to resolve class action lawsuit claims of unfair out-of-network ATM fees.
The settlement benefits consumers who paid an unreimbursed ATM access fee directly to the defendants (JP Morgan, Wells Fargo, or Bank of America) or others (any bank that is a member of the Visa or MasterCard networks) for an out-of-network ATM transaction between Oct. 1, 2007, and Nov. 12, 2021.
According to a class action lawsuit against the settling companies and other organizations, consumers incurred unfair ATM surcharges when using out-of-network ATMs. The defendants allegedly worked together in an antitrust agreement to raise the cost of out-of-network ATM surcharges, resulting in artificially high costs for their customers. Without this alleged agreement, consumers would have paid significantly less in fees, the class action lawsuit contends.
Plaintiffs in the ATM fee class action lawsuit brought claims under the Sherman Act, a federal antitrust law. Antitrust agreements, such as the ones described in the 2015 amended complaint, are outlawed by federal law due to the unjust burden placed on consumers and the negative impact on fair markets.Â
JP Morgan, Bank of America, and Wells Fargo are the three largest banks, respectively, in the United States by assets for 2021, according to Insider Intelligence.
JP Morgan, Wells Fargo, and Bank of America deny any wrongdoing but agreed to settle the claims against them in an out-of-network ATM fees class action settlement.Â
The combined settlement fund is worth $66.74 million, with JP Morgan paying $19.5 million, Wells Fargo paying $20.82 million, and Bank of America paying $26.42 million.
Payments from the JP Morgan, Wells Fargo, and Bank of America ATM fees lawsuit settlement will vary depending on a number of factors, including counsel and administrative fees and and other deductions from the settlement. After these deductions, which must be approved by the court at the approval hearing, the net settlement fund will be used to pay customers.
Payments will be distributed to consumers on a pro rata basis. Because it is impossible to know how many claims will be filed, no payment estimates are available.
If the settlement is approved and no appeals are filed, the settlement administrator expects payments to be sent out within six months. However, court delays and appeals could extend this timeline.
The final approval hearing for the JP Morgan, Wells Fargo, and Bank of America out-of-network ATM fees class action lawsuit settlement is scheduled for May 17, 2022.
The deadline for exclusion and objection from the settlement is March 11, 2022.Â
In order to receive a settlement payment, Class Members must file a valid claim form by May 11, 2022.
Who’s Eligible
Consumers who paid an unreimbursed ATM access fee directly to the defendants (JP Morgan, Wells Fargo, or Bank of America) or others (any bank that is a member of the Visa or MasterCard networks) for an out-of-network ATM transaction between Oct. 1, 2007, and Nov. 12, 2021.
Potential Award
Varies
Proof of Purchase
No proof of purchase applicable.
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
05/11/2022
Case Name
Andrew Mackmin, et al. v. Visa Inc., et al., Case No. 1:11-cv-01831 in the U.S. District Court for the District of Columbia
Final Hearing
05/17/2022
Claims Administrator
ATM Surcharge Settlement
P.O. Box 170500
Milwaukee, WI 53217
[email protected]
877-311-3724
Class Counsel
Steve Berman
HAGENS BERMAN SOBOL SHAPIRO LLP
Stephen Neuwirth
QUINN EMANUEL URQUHART & SULLIVAN LLP
Steven A. Skalet
MEHRI & SKALET PLLC
Defense Counsel
Michael B. Miller
MORRISON & FOERSTER LLP
Boris Bershteyn
SKADDEN ARPS SLATE MEAGHER & FLOM LLP
William F. Cavanaugh JR.
PATTERSON BELKNAP WEBB & TYLER LLP
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248 thoughts onJP Morgan, Wells Fargo, BOA out-of-network ATM fees $66M class action settlement
Chase bank. Please add me
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Bank of America
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Please add me. I’m a B of A customer.