The Italian Competition Authority fines two trade associations and several local cooperative banks for fixing mortgage interest rates (Mortgage interest rates agreement)

The Italian Competition Authority (ICA) has recently closed an antitrust investigation in the ‘Mortgage interest rates agreement’ case [1] by finding guilty two cooperative trade associations and 14 small cooperative banks for carrying out two price-fixing agreements in the province of Bolzano (the Bolzano cartel) and in the province of Trento (the Trento cartel). In essence, the penalized associations and firms were found to have agreed to collectively determine the mortgage interest rates. The facts of the case In 2004 the ICA received a complaint lodged by a consumer association that reported an anti-competitive agreement concluded by a number of small cooperative banks (the so-called Raffeisen bank) in the province of Bolzano. The complainant alleged that the cooperative banks

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Auteur

  • Desogus Law Office (Cagliari)

Citation

Michele Giannino, The Italian Competition Authority fines two trade associations and several local cooperative banks for fixing mortgage interest rates (Mortgage interest rates agreement), 24 février 2016, e-Competitions February 2016, Art. N° 78809

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