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FRANCE-BANKING-COMPETITION-FINE
A combo made on September 20, 2010 shows the logos of 11 major French banks : (from top L to R) Banque de France, Credit Mutuel, Credit Industriel et Commercial (CIC), BPCE, Credit Agricole, HSBC, BNP, Societe Generale, La Banque Postale, Credit du Nord, LCL. France's competition authority said today it had fined 11 big French banks 384 million euros (503 million dollars) for colluding to fix a commission they charged for handling cheques. The banks in 2002 introduced a 4.3 euro cents commission per cheque, arguing that it was necessary to compensate for a loss of revenue which came after the cheque processing system was speeded up. The banks argued that they were losing out on interest payments because they had to release the funds for the cheques sooner than under the previous processing system. But the competition authority said in a statement that after conducting an inquiry it had concluded the commission charged was unjustified. AFP PHOTO
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Detalii fotografie |
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Paris, FRANCE |
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AFP / Mediafax Foto |
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| Fotograf: |
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DESK |
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| Data: |
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20 Septembrie 2010 |
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4180 x 1888 (784.11 KB) |
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