“EU’s Kroes Warns Banks on Payments” (via AP)

December 7, 2007

EU Antitrust Chief Warns That New Bank Payment System Should Not Cost Customers More.  The EU’s antitrust chief Neelie Kroes warned banks on Monday that a new payment system should not be allowed to cut down choice or increase costs for customers.

Regulators have criticized the high level of these fees, saying card networks like Visa, MasterCard and American Express have failed to explain why they need to charge so much for handling payments.

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[via AP]