EU: Banks drop e-payments standardization plans, Commission drops investigation
The European Commission has dropped a 16-month investigation into an e-payments plan initiated by several major banks after the banks abandoned the project. The European Payments Council, with banks including HSBC, BBVA and Deutsche Bank, had wanted to initiate a way to standardize the e-payments process. The Commission opened an investigation into those plans in September 2011. According to reports, the EPC dropped its plans and the Commission dropped its probe soon after. Almunia announced the end of the probe in Paris on Friday, adding that “alternative, non-bank systems could then remain in or enter the market” now that the standardization plans have been abandoned.
Full Content: Fox Business
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI