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BPCE, Credit Agricole, Fined in French Check Cartel

BNP Paribas SA, Groupe Credit Agricole, BPCE SA and eight other banks were fined a total of 384.9 million euros ($504 million) after France’s competition regulator said an electronic check-processing program improperly levied fees on consumers.

BPCE, France’s second-largest bank by branches, was fined 90.9 million euros, the largest penalty. Credit Agricole was fined 82.9 million, the Autorite de la Concurrence said in a statement. Credit Agricole’s Credit Lyonnais unit was fined another 20.9 million euros.