EU To Rule That MasterCard Fees Are Illegal

Law360, New York (December 17, 2007, 12:00 AM EST) -- In a landmark decision that could determine how the credit card industry operates in Europe, the European Commission is expected to rule on Wednesday that MasterCard Inc.'s practice of charging interchange fees violates antitrust laws.

Competition Commissioner Neelie Kroes plans to tell the credit card giant that it must cut bank fees that allow customers to buy goods and services internationally, Reuters reported industry officials saying.

The decision will close an antitrust case that was filed in the summer of 2006, which alleged that MasterCard restricted...
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