MasterCard Loses Fight at Top EU Court Over Card Levies
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MasterCard Inc. lost a court challenge to a European Union antitrust curb on card-payment fees in a ruling that bolsters efforts to limit a cash cow for banks.
The EU’s Court of Justice ruled today that the fees set by MasterCard had unfairly restricted competition and that it failed to show benefits to justify its system. The judgment may spur legal proceedings against card levies across Europe, including the U.K.’s stalled antitrust probe and lawsuits by retailers. EU lawmakers and governments are also weighing limits on the charges.