U.K. Plans To Keep Spotlight On MasterCard Fees

Law360, New York (June 19, 2006, 12:00 AM EDT) -- Although it has dropped its original action against MasterCard, the Office of Fair Trading said it plans to carry on with its six-year investigation into the credit card association’s interchange fees for allegedly violating competition laws in the European Union and United Kingdom.

The OFT decided to withdraw its statement of objections at a Competition Appeals Tribunal (CAT) court hearing, and the industry appeals tribunal on Monday set aside the ruling in the case against MasterCard U.K., the British subsidiary of MasterCard Inc.

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