Memo: Competition: Commission confirms new Statement of Objections sent to ‘Groupement des Cartes Bancaires’

The European Commission can confirm that it sent a new Statement of Objections to the ‘Groupement des Cartes Bancaires’ (CB) on19 July 2006. In its new Statement of Objections the Commission takes the preliminary view that ‘Groupement des Cartes Bancaires’ restricted competition between member banks by adopting tariffs which hinder the issuing of cards by new entrants at a reduced price, thereby preserving the revenues and market shares of incumbent banks to the detriment of consumers. The Commission’s preliminary view is that such behaviour is contrary to the EC Treaty’s ban on restrictive business practices (Article 81).