22 October 2017
visit www.atos.net

National ATM Council files objection to Visa-MasterCard merchant settlement

06 November 2012  |  2334 views  |  0 Source: National ATM Council

The National ATM Council (NAC), the nation's leading trade association representing U.S. independent ATM providers, yesterday filed an objection with the U.S. District Court for the Eastern District of New York, asking the Court to require that the proposed class action settlement agreement between certain merchants and Visa/MasterCard be clarified to expressly exclude independent ATM operators and their separate antitrust claims from the class and adjudicated issues encompassed by the proposed settlement.

As the basis for its objection, NAC stated that the proposed settlement was sufficiently vague to be improperly read to encompass the interests of the nation's independent ATM operators, despite the fact that ATM providers have not been parties to the case and no specific ATM issues have been raised in the proceeding or addressed by the terms of the proposed settlement.

Moreover, NAC pointed out to the court that the specific antitrust issues involving anti-competitive conduct by VISA and MasterCard in the ATM industry are the subject of separate and distinct antitrust litigation filed by NAC and a group of named plaintiffs, now pending before the U.S. District Court for the District of Columbia.

"NAC is pleased that the proposed settlement by VISA and MasterCard represents an effort to address claimed anti-competitive conduct by these companies in the merchants' setting," said NAC Executive Director Bruce Renard. "Likewise, NAC remains committed to vigorously pursuing relief from the anti-competitive price fixing conduct fostered by these same firms in the ATM sector."

NAC's antitrust class action law suit is being heard by Federal District Court Judge Amy Berman Jackson, in a consolidated case now residing before the Federal District Court in Washington D.C. along with several related consumer class action cases filed against VISA and MasterCard for alleged anti-competitive abuse in the context of ATM network and transaction services. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
13164 views comments | 17 tweets | 28 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
12216 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9540 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9065 views comments | 11 tweets | 22 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8561 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job