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EU Fines Mastercard More Than Half a Billion Euros

DW:

The European Commission on Tuesday fined Mastercard €570 million ($648 million) for preventing retailers from looking for better card payment terms at banks around Europe.

The Commission, which monitors competition, said that Mastercard’s rules prior to 2015 forced retailers to pay certain bank fees in the country they are located rather than let them shop around.

Now that’s a fine.

Wednesday, 23 January 2019