Credit Agricole, BPCE To Appeal Antitrust Fines

Law360, New York (October 6, 2010, 4:00 PM EDT) -- At least two French banks have decided to fight nearly €174 million ($242 million) in fines imposed in September by France’s competition regulator for allegedly colluding to fix check-clearing fees.

Credit Agricole SA and the French mutual bank Groupe BPCE will appeal fines they received following an investigation by L’Autorite de la Concurrence suggesting they conspired with nine other banks to illegally levy a fee on checks exchanged in France, the companies separately told Law360 on Thursday.

BPCE will appeal €90.9 million in fines, the steepest...
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