“[Israeli] Regulator Seen Ruling Against Banks On Collusion: An Antitrust Authority Ruling Can Be Used In A Civil Action Against The Banks On Fees (via Trading Markets)

Click here to read the March 21, McClatchy-Tribune Information Services article.

Excerpts.

• “[Israeli] Antitrust Authority director general Ronit Kan today notified the five big banks the she plans to issue a civil ruling that executives shared information on bank fees.  A civil ruling serves as evidence for civil suit, which means that the public can use the ruling in a civil suit against the banks. A similar ruling was used in a class-action suit against the banks over the sharing of information.”

• “The [Israeli] investigation is focusing on suspected collusion on bank fees and interest, as well as activities of banks’ subsidiaries, including their credit card companies.”