9th Circ. Affirms Banks' Win In ATM Fee Antitrust Suit

Law360, Los Angeles (July 12, 2012, 6:42 PM EDT) -- The Ninth Circuit on Thursday upheld the dismissal of a long-running class action against Bank of America NA, JPMorgan Chase Bank NA and others over alleged price-fixing of ATM interchange fees, affirming bank customers lack standing to continue the suit.

The Ninth Circuit held that under the standard set in the U.S. Supreme Court's 1977 decision in Illinois Brick Co. v. Illinois, the proposed class of customers who claim the banks pass on inflated interchange fees when they use a foreign ATM can't recover damages because...
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