The 9th Circuit tossed out a lawsuit that claimed several banks illegally conspired to fix the fees that they charge non-bank customers for ATM withdrawals.
According to the suit, the banks colluded to set the fees they charge one another, not bank customers, for foreign ATM transactions. The court, which ruled on the case yesterday, said the customers who filed the complaint don’t directly pay the fees at issue, therefore, they have no standing to sue.
Plaintiffs claim that banks artificially inflated the rates they charged one another, then passed those additional expenses on to the customers. But a three-judge panel unanimously upheld a lower court’s ruling in the case when it dismissed the suit yesterday. Bank of America, Wells Fargo and several other banks were defendants in the case.
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