The French Competition Authority makes mandatory commitments proposed by an economic interest group to reduce the inter-bank fees applicable to transactions by payment cards (Groupement des Cartes Bancaires)

On July 7, 2011, the French Competition Authority (hereinafter the “Authority”) issued a decision whereby it accepts settlement of an investigation and makes mandatory the commitments proposed by “Groupement des Cartes Bancaires”,an Economic Interest Group which brings together more than 130 banks (including Société Generale, BNP Paribas and Crédit Lyonnais) and whose activity focuses on card payments to reduce the amount of the inter-bank fees generated by transactions made by payment cards, inter-bank withdrawals, and other banking operations involving payment cards (which represent in total approximately 35% of the volume of payments). Background In February 2009, two of the main trade organizations representing retailers (the “Federation des Entreprises du Commerce et de

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Jean-Julien Lemonnier, The French Competition Authority makes mandatory commitments proposed by an economic interest group to reduce the inter-bank fees applicable to transactions by payment cards (Groupement des Cartes Bancaires), 7 July 2011, e-Competitions Bulletin Commitment Decisions, Art. N° 38515

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