11 banks to be repaid 384.9M euro antitrust fine

By CPI | February 26, 2012

A Paris court has ruled that 11 banks must be repaid a 384.9 million euro (approximately $512 million) antitrust fine paid in 2010. The Autorité de la concurrence had fined the banks–including BNP Paribas, Société Génerale, and Credit Agricole–for collusion over setting interbank check fees from 2000 to 2007. The court, however, found that the agreement creating the fees was not a secret cartel.