Italian Competition Authority: Remedies proposed by Italian banking association (Abi) and Pattichiari accepted and made binding

( April 15, 2009, 15:46 GMT | Official Statement) -- MLex Summary: The Italian antitrust authority has accepted and made binding remedies proposed by the Italian banking association (Abi) and Pattichiari in the context of an investigation launched in September 2008 into possible anticompetitive conduct. According to the regulator, ABI had helped to fix the maximum level of inter-banking commission charges regarding cheque and other payment services, and Pattichari established a maximum number of working days for cheque clearance. The binding remedies include the elimination of the two commission charges with the biggest impact on the consumer, and the reduction of the time necessary to cash cheques to five days, according to the regulator.Full press release in Italian follows....

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Italian Competition Authority: Remedies proposed by Italian banking association (Abi) and Pattichiari accepted and made binding

Prepare for tomorrow’s regulatory change, today

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