EU Watchdog To Drop E-Payments Antitrust Probe

Law360, New York (February 22, 2013, 7:54 PM EST) -- The European Commission plans to close its investigation into efforts by a group of European banks to standardize online payment processing now that the trade association running the program has abandoned its plans, the agency's antitrust chief said Friday.

The European Payments Council announced in July that it would drop its draft framework to set up e-payment standards as part of its Single Euro Payments Area project in light of the EC's decision to launch an antitrust probe of the matter.

That decision should allow the...
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