Italy Fines MasterCard, Banks Over Interchange Fees

Law360, New York (November 5, 2010, 11:59 AM EDT) -- Italy's antitrust enforcer has fined MasterCard Inc. and eight banks, including Barclays Bank PLC and Deutsche Bank SpA, more than €6 million ($8.4 million) for allegedly using licensing agreements to keep interchange fees high in the country and passing those charges on to merchants.

MasterCard faces a €2.7 million fine for its licensing agreements with the banks, which received penalties ranging from €50,000 for Barclays to €910,000 for Banca Monte dei Paschi di Siena SpA, the Italian Antitrust Authority said Thursday.

The regulator hit Intesa Sanpaolo...
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