Friday, June 30, 2006

"EU Charges MasterCard With Price-Fixing" (AP)

European Union's antitrust regulator has "formally charged the credit card company with breaking its rules by restricting competition between banks."


The European Commission said Friday it had charged MasterCard Inc. with fixing the fees retailers must pay for accepting MasterCard and Maestro branded cards, saying this limits competition between banks that use the service.

"The commission's preliminary view is that such behavior is contrary to the EC Treaty's ban on restrictive business practices," it said in a statement.

{source: AP, Click here to view article]