MasterCard Objects To EU's Interchange Fee Ruling

Law360, New York (December 19, 2007, 12:00 AM EST) -- Unhappy with a ruling that would force it to reverse a 40-year-old practice of charging retailers for international payments, MasterCard Inc. said on Wednesday that it will appeal the European Commission's decision that “interchange fees” are illegal and anti-competitive.

The commission handed down the ruling earlier on Wednesday, finding that MasterCard must revise the way it calculates the fee so that it “contributes to technical and economic progress.” If the credit card giant does not comply, it could face a daily penalty of as much as...
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