EU Says Limited Interchange Fees Would Be OK

Law360, New York (September 4, 2008, 12:00 AM EDT) -- The European Commission and the European Central Bank have pressed banks to launch a direct debit scheme for consumers across Europe, signaling that they are willing to accept a multilateral interchange fee system despite last year's assertion that such fee structures were anti-competitive.

The EC and Central Bank said in a statement on Thursday that they were prepared to back the idea of building a “justified and transitional” multilateral interchange fee into the Single Euro Payments Areas Direct Debit scheme, in a turnaround from the commission's...
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