E.U.: Customers Paying Electronically Being Overcharged

Law360, New York (April 11, 2006, 12:00 AM EDT) -- A report by the European Commission to be released later today will highlight exorbitant fees by credit card companies and other electronic payment systems, as well as a dearth of competition among companies that handle electronic payments.

The report stems from an ongoing investigation into banking practices in the European Union.

The European Union hopes to streamline electronic payment procedures throughout Europe and standardize the fees charged to customers, thereby facilitating commerce among the E.U.’s member countries.

According to the E.C.'s Web site, their goal is...
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