Fines: The Paris Court of Appeal confirms the French Competition Authority’s decision on unjustified interbank fees charged during the transition towards a new digital system for processing checks but reduces the amount of certain fines (LCL - Crédit Lyonnais)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. In September 2010, the French Competition Authority had heavily sanctioned the Banque de France, BPCE, Banque Postale, BNP-Paribas, Confédération Nationale du Crédit Mutuel and Crédit Agricole for a total of nearly €385 million, Crédit du Nord, Crédit Industriel et Commercial (CIC), LCL, HSBC and Société Générale for concertedly setting up and applying an interbank commission of 4.3 euro cents on 80% of cheques exchanged in France between January 2002 and July 2007 (Aut. conc.., Dec. no. 10-D-28 of Sept. 20, 2010 relating to the rates and related conditions applied by banks and financial institutions for the processing of cheques submitted for collection.).