MasterCard Faces New UK Competition Probe

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00021588-mastercard-faces-new-uk-competition-probe/

By Pete Harrison, Reuters

Britain’s Office of Fair Trading (OFT) has launched a new investigation into credit card association MasterCard and suspects that it has infringed the Competition Act, the watchdog body said on Thursday.

The OFT probe follows one last year which concluded that fees charged by MasterCard UK’s members, including most major banks, were anti-competitive and pushed up retail prices.

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