Commission warns banks, Visa and Mastercard of antitrust action

Series Title
Series Details 13.4.06
Publication Date 13/04/2006
Content Type

Neelie Kroes, the European Union competition commissioner, threatened 12 April 2006 to take antitrust action against banks and Visa and Mastercard, the payment card companies, for exploiting their consumers and small businesses. She said payment card operators were aking 'outrageous' profits and accused the industry of operating 'a closed shop.
Related Links
European Commission: Press Release: IP/06/496: Competition: Commission sector inquiry highlights competition concerns in payment cards industry http://europa.eu/rapid/pressReleasesAction.do?reference=IP/06/496&format=HTML&aged=0&language=EN&guiLanguage=en
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