EU antitrust body probes MasterCard fees - Fox 2 News Headlines

EU antitrust body probes MasterCard fees

Posted: Updated:

BRUSSELS (AP) - The European Union has launched an antitrust investigation into some of MasterCard's payment fees.

The European Commission, the EU's executive arm that acts as the antitrust authority, said Tuesday it has concerns that some of the U.S. company's interbank fees and related practices may violate competition rules.

Spokesman Antoine Colombani says interbank fees vary greatly across the 27-nation EU, with a card payment of 50 euros in the Netherlands costing 10 euro cents, but up to eight times that in Poland.

The Commission says rules hindering merchants from enjoying better terms offered by banks elsewhere may violate antitrust standards. It is also investigating fees charged to merchants when non-European card holders shop in Europe.

In 2007, the EU prohibited some of MasterCard's interbank fees. It is also investigating Visa.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Your MoneyMore>>

  • Housing activists protest Airbnb

    Housing activists protest Airbnb

    Friday, September 12 2014 7:41 PM EDT2014-09-12 23:41:17 GMT
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
  • Robot workers are coming

    Robot workers are coming

    Friday, September 12 2014 7:13 PM EDT2014-09-12 23:13:15 GMT
    A life-sized looking and sounding robot named the RoboThespian is an interactive, alert machine powered by algorithms and codes -- a form of artificial intelligence. It's the sort of thing that would have sounded like science fiction a generation ago. These days, robots like this are used mostly in showrooms and for entertainment. But researcher Cadell Last of the Global Brain Institute says that these bots will have a much bigger role and will make up a major part of the workforce.
    A life-sized looking and sounding robot named the RoboThespian is an interactive, alert machine powered by algorithms and codes -- a form of artificial intelligence. It's the sort of thing that would have sounded like science fiction a generation ago. These days, robots like this are used mostly in showrooms and for entertainment. But researcher Cadell Last of the Global Brain Institute says that these bots will have a much bigger role and will make up a major part of the workforce.
  • Clothing for a cause

    Clothing for a cause

    Friday, September 12 2014 7:00 PM EDT2014-09-12 23:00:07 GMT
    Like millions of Americans, John Williams has been out of work for months. He has finally landed an interview for a customer service position. To make sure he gets the job, he is making sure to look his best, thanks to Suited for Work.Suited for Work is a program under FEGS, a nonprofit that's been around for 80 years. Since its inception, Suited for Work has outfitted more than 8,000 men with brand-new suits donated by manufacturers.
    Like millions of Americans, John Williams has been out of work for months. He has finally landed an interview for a customer service position. To make sure he gets the job, he is making sure to look his best, thanks to Suited for Work.Suited for Work is a program under FEGS, a nonprofit that's been around for 80 years. Since its inception, Suited for Work has outfitted more than 8,000 men with brand-new suits donated by manufacturers.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices