E.C. Accuses MasterCard Of Fixing Interchange Fees

Law360, New York (June 30, 2006, 12:00 AM ET) -- The European Commission has fired off a charge against U.S.-based MasterCard Inc. for fixing cross-border interchange fees that violate competition laws.

The Commission said Friday that it notified MasterCard on June 23 that its interchange process of charging retailers for accepting MasterCard and Maestro branded cards may breach its ban on restrictive business practices.

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

The 220-page document is a supplement to an earlier...
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