A PYMNTS Company

11 banks to be repaid 384.9M euro antitrust fine

By  |  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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Source: Reuters

     

    Related Content: Banking Regulatory Reform: “Too Big to Fail” and What Still Needs to be Done (Abel Mateus, University College London)