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MasterCard Facing $650M Fine In EU Swipe Fee Probe

Law360 (December 4, 2018, 2:47 PM EST) -- MasterCard Inc. said Tuesday it expects to see a $650 million fine from Europe's antitrust enforcer as it nears a deal to wrap up the watchdog's investigation over fees charged to European-area retailers that accept tourists' credit and debit cards.

MasterCard Inc. expects to incur a $650 million fine related to the European Commission’s probe into tourist swipe fees, which also put Visa Inc. under scrutiny. Both credit card giants have agreed to slash such fees, the watchdog said Tuesday. (AP)

The European Commission's yearslong probe also put Visa Inc. under the microscope and focused on rates for bank-to-bank fees that...

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