TITLE

OFT launches MasterCard investigation

PUB. DATE
January 2006
SOURCE
Credit Control;2006, Vol. 27 Issue 1, p49
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Great Britain Office of Fair Trading (OFT) has established an investigation into MasterCard International Inc.'s new arrangements for setting the fallback interchange fees that apply to all domestic transactions made using Great Britain-issued MasterCard credit and charge cards. OFT claims that it has reasonable grounds for suspecting that the new arrangements infringe Article 27 and or the Chapter I prohibition of the Competition Act.
ACCESSION #
21532004

 

Related Articles

  • MasterCard facing new investigation in U.K. regarding interchange fees. N. C. // Asset Securitization Report;2/13/2006, Vol. 6 Issue 6, p15 

    The article reports that the company MasterCard International Inc. is facing new investigation conducted by the Great Britain Office of Fair Trading (OFT) regarding calculating interchange fees applied to transactions using its credit cards. Previously on September 2005, the OFT has decided that...

  • U.K. Says MasterCard Should Reduce Interchange. Lindenmayer, Isabelle // American Banker;9/7/2005, Vol. 170 Issue 172, p8 

    Reports that the British Office of Fair Trading called for a lowering of MasterCard International's fees. Investigation by British regulators, which found that when MasterCard changed the way it sets interchange, the fees it charged hindered competition among merchant acquirers; Claim by John...

  • MasterCard verdict risks leaving UK consumers worse off.  // MarketWatch: Financial Services;Oct2005, Vol. 4 Issue 10, p15 

    This article reports that after four and a half years of investigation, the Office of Fair Trading (OFT) of Great Britain has found that the multilateral interchange fee collectively agreed by the members of the MasterCard International Inc.' MasterCard Members Forum (MMF) acts to restrict...

  • British Probe of MC Seen Helping Amex.  // American Banker;2/6/2006, Vol. 171 Issue 24, p5 

    This article reports on the United Kingdom Office of Fair Trading investigation of claims that MasterCard International's fees amount to a tax on consumers, especially those who pay cash, because the fees fund reward programs or interest-free teaser rates. Interchange should cover only the costs...

  • NO 'GOOD SHOW' FOR CREDIT CARDS IN THE UK.  // CardLine;2006, Vol. 6 Issue 6, p23 

    This article reports on the negative news heard by consumers in Great Britain about the credit card industry. The British Office of Fair Trading (OFT), chief regulator of the payments business, reported it would investigate the interchange rates of MasterCard International. The OFT reported that...

  • MasterCard wins victory in interchange dispute.  // Credit Control;2006, Vol. 27 Issue 3, p47 

    The article reports on the reversal of the Competition Appeals Tribunal of the decision of the British Office of Fair Trading (OFT) on the interchange fee arrangements of Mastercard International Inc. The move is a victory on the part of the company. The decision of the OFT emphasizes that the...

  • California Legislative Committee Examines Interchange. Fitzgerald, Kate // CardLine;1/29/2010, Vol. 10 Issue 5, p25 

    The article reports on the investigation conducted by the California Legislative Committee on the issue concerning the increased credit and debit cards interchange fees in California. It states that the hearing resulted in plans to study further the interchange and its ramification in...

  • OFT ordered to pay credit card costs in 'unusual' CAT decision. Begum, Husnara // Lawyer;8/7/2006, Vol. 20 Issue 31, p4 

    The article reports that in a highly unusual move, Great Britain Office of Fair Trading (OFT) has been ordered by the Competition Appeal Tribunal (CAT) to pay costs to intervener Visa Europe in the high-profile credit card fee arrangements probe. The CAT has also ordered the OFT to pay costs to...

  • MasterCard: EC ruling on cross-border interchange fees may be detrimental to consumers.  // MarketWatch: Global Round-up;Aug2008, Vol. 7 Issue 8, p129 

    The author reflects on the impact of MasterCard International Inc. suspension of cross-border interchange fees on consumers debit and credit cards in Europe. According to the author, MasterCard's alleged violation on the European Commision (EC) regulations on restrictive business practices made...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics