EC Nears Completion Of MasterCard Probe

Law360, New York (August 3, 2007, 12:00 AM EDT) -- The European Commission will complete its probe into MasterCard Inc.'s interchange fees and rule on the legality of the payments by autumn, the credit card company said on Friday.

The Commission's decision in the matter will close an antitrust case filed last summer, alleging that MasterCard restricted business practices by charging retailers for accepting MasterCard- and Maestro-branded cards.

The Commission said if it finds that the fees are anti-competitive between merchant banks, MasterCard may have to stop charging retailers interchange fees.

The European Commission's 220-page document...
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