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EU regulators question card issuer profits.

Publication: Business Travel News
Publication Date: 19-JUN-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Profits for European card issuers are under fire by the European Union's Competition Commission as E.U. antitrust regulators look into competition problems within the financial industry.

Competition Commissioner Neelie Kroes reported at a recent European financial services conference that card issuers have overcharged customers as a result of insufficient competition, according to industry publication CardLine Europe. She said there wasn't evidence that high profits were a result of innovation and risk-taking, and she said the high...

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