MasterCard Unit To Cut Debit-Card Interchange Fees

Law360, New York (December 5, 2006, 12:00 AM EST) -- MasterCard Europe plans to slash bank fees for debit-card transactions by 60% in a timely move that may keep the credit card company out of trouble with European Union regulators concerned with whether the fees break antitrust laws.

The MasterCard Inc. subsidiary introduced its new fee structure Monday, as E.U. officials come close to wrapping up a decade-long investigation into whether the company has breached antitrust laws by setting cross-border interchange fees.

When a consumer pays with a debit card, a payment is processed through the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.