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French check processing fee controversy of 2010

In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks 384.9 million for colluding to charge unjustified fees for check processing, especially for extra fees charged during the transition from paper check transfer to “Exchanges Check-Image” electronic transfer. [1][2]

The banks were:[1]

See alsoEdit

NotesEdit

  1. ^ a b Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20
  2. ^ 3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel , Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 2010 9 20