French check processing fee controversy of 2010
Encyclopedia
In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks €384,900,000 for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.
The banks were as follows:
The banks were as follows:
- Banque de FranceBanque de FranceThe Banque de France is the central bank of France; it is linked to the European Central Bank . Its main charge is to implement the interest rate policy of the European System of Central Banks...
- BPCEBPCEGroupe BPCE is France's second largest bank, formed by the 2009 merger of CNCE and BFBP , has more than 8,200 branches nationwide under their respective brand names serving nearly 40 million customers...
- Banque postale
- BNP ParibasBNP ParibasBNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
- Confédération Nationale du Crédit Mutuel
- Crédit AgricoleCrédit AgricoleCrédit Agricole S.A. is the largest retail banking group in France, second largest in Europe and the eighth largest in the world by Tier 1 capital according to The Banker magazine. It is also part of the CAC 40 stock market index....
- Crédit du NordCrédit du NordCrédit du Nord is a French retail banking network.It consists of the followings banks:* Banque Courtois, Toulouse, Aquitaine * Banque Kolb, Alsace, Lorraine* Banque Laydernier, Savoy...
- Crédit Industriel et CommercialCrédit Industriel et CommercialCrédit Industriel et Commercial is a financial services group in France, founded in 1859 With its parent-company, Crédit Mutuel it is the fourth largest bank in the country...
(CIC) - LCL
- HSBCHSBCHSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
- Société GénéraleSociété GénéraleSociété Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...