E.C. Will Not Scrap Interchange Fees: Report

Law360, New York (January 29, 2007, 12:00 AM EST) -- Inside sources are predicting that the European Commission will refrain from recommending a sweeping overhaul of credit card interchange fees, and will instead push for a more studied approach to reform, according to Reuters.

Citing anonymous sources, the newswire reported Monday that the E.C.’s upcoming report on the banking industry will contain recommendations that fall far short of the changes urged by critics of the current system.

The speculation came just two days before the E.C. is expected to release its final report on the banking...
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