ATM Operators Call $7B Interchange Fee Deal Too Broad

Law360, New York (March 29, 2013, 7:04 PM EDT) -- An ATM industry group objected Friday to Visa Inc. and MasterCard Inc.'s $7.25 billion antitrust class action settlement, warning that the controversial deal improperly lumped ATM operators in with the merchants who originally targeted the credit card companies' interchange fees.

The ATM Industry Association urged the court to either refuse final approval of the deal or to require the parties to make changes to certain key definitions in the agreement in order to make sure it didn't apply to ATM operators.

The landmark settlement is supposed...
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