UK Watchdog Says Still Probing MasterCard Fees

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00014311-uk-watchdog-says-still-probing-mastercard/

MasterCard may be on the wrong side of the law, according to a United Kingdom consumer watchdog group. In a Reuters story, Britain?s Office of Fair Trading was continuing its six-year probe into the fees charged by credit card association MasterCard.

There?s some confusion as to what the continued focus of the investigation will be. Industry sources say that the OFT is expected next week to shift focus onto current fees rather than past charges. A spokesman for the OFT said: “We can’t comment on proceedings in the CAT in advance of the hearing on Monday, but we can confirm that our current investigation into MasterCard and Visa’s multiple interchange fees (MIF) is continuing.?

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