Kroes: Banking Probe Shows Antitrust Problems

Law360, New York (January 25, 2007, 12:00 AM EST) -- With the European Commission's final report on competition in the credit card industry looming, Competition Commissioner Neelie Kroes has indicated that she believes antitrust problems are plaguing the financial services sector, resulting in diminished competition.

Kroes, speaking to Dow Jones reporters at the World Economic Forum in Davos, Switzerland, admitted that “some segments of the market are anti-competitive,” reported the newswire.

"I'm not against profit, but there are some cases where there are firms making too much," said Kroes, refusing to elaborate any further.

The Commissioner’s...
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