Posted on 04/10/2013 10:08:56 PM PDT by Olog-hai
The European Commission launched a probe on Tuesday into whether inter-bank fees charged by MasterCard (MA) may be hurting competition in Europe and running afoul of antitrust rules.
The investigation comes as part of a broader look at fees in the card industry, including a similar probe of card giant Visa (V).
Noting that European consumers and businesses are making more than 40% of their non-cash payments each year by card, the EC said it has a “priority” to “prevent competition distortions in inter-bank arrangements on fees and other conditions.”
The EC said it is concerned that some of MasterCard’s inter-bank fees and other practices may be anti-competitive. …
(Excerpt) Read more at foxbusiness.com ...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.