In 2010, the French government's (the department in charge of regulating competition) fined eleven banks €384.9 million for colluding to charge unjustified fees for Cheque, check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.
The banks were:
*
*BPCE
*
*BNP Paribas
*
*
*
* (CIC)
*HSBC
*LCL S.A., LCL
*
See also
*Cheque fraud
*Cheque truncation
*Substitute check
*Check 21
Notes
[3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel ](_blank)
Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 2010 9 20
[Collusion in the banking sector](_blank)
Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20
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Controversies in France
2010 in France
2010 in economics
Economic history of France