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4/16/06

CANOE Money - EU antitrust regulators say credit and debit cards are charging too much

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EU antitrust regulators say credit and debit cards are charging too much

BRUSSELS (AP) - Credit and debit cards such as Visa and MasterCard are racking up unjustifiably high charges, EU antitrust regulators said earlier this week, warning that it might take action in specific cases. In its first report from a wide-ranging investigation into payment cards in Europe, the European Commission said customers are paying too much because the card industry was still split along national lines.

Customers in some EU countries are paying 100 per cent more for MasterCard and Visa than in other countries, regulators found.

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