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Visa, Mastercard, Budapest Bank challenge Hungarian card-fee probe at EU's top court

By Michael Acton ( June 27, 2019, 14:04 GMT | Insight) -- Visa, Mastercard, Budapest Bank and a number of other Hungarian banks appeared at the EU’s top court today, to dispute a decision by the Hungarian Competition Authority which found that they violated competition law in principle when fixing card fees. Lawyers argued that the authority should have looked more closely at the effects of the activity, pointing to the complex multi-sided nature of the payment-services market. Visa and Mastercard also disputed the extent of their overall involvement in the cartel.Visa, Mastercard, Budapest Bank and a number of other Hungarian banks appeared at the EU’s top court today, to dispute a decision by the Hungarian Competition Authority which found that they violated competition law in principle when fixing card fees....

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