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Bancomat’s ATM-remuneration plan breached competition rules, Italian watchdog says

( December 6, 2022, 09:44 GMT | Official Statement) -- MLex Summary: The proposal by interbank ATM network Bancomat for a new remuneration model constituted a competition restriction to the detriment of consumers, Italy's antitrust enforcer AGCM has said. The AGCM has closed its probe into Bancomat's plan, without applying a fine. The investigation, which began in 2020, aimed to find out whether the new rules that the network wanted to introduce — such as abolishing the interchange fee and making the customer pay the commission for cash withdrawal directly to the bank hosting that particular ATM — would limit or distort competition. But as Bancomat hasn't implemented the changes, the conditions to fine it weren't met, the AGCM said.Statement follows (in Italian). The text of the decision is attached. ...

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