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Europe Daily Bulletin No. 7751

5 July 2000
GENERAL NEWS / (eu) eu/competition/banks
Commission issues warning to around 120 banks in four Member States suspected of colluding on exchange commissions within Euro area

Brussels, 04/07/2000 (Agence Europe) - The European Commission warned banks and banking associations in Belgium, Finland, Portugal and Ireland that it has evidence proving that there had been a violation of EU competition rules concerning commission for currency conversion in the Euro area. After having investigated the consumers complaints according to which the banks have collectively set the amount commission to be taken, the Commission has or will send a statements of objection to close...

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