Reuters: Regulatory News: MasterCard says to appeal EU court fees ruling

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MasterCard says to appeal EU court fees ruling May 24th 2012, 09:53 LUXEMBOURG | Thu May 24, 2012 5:53am EDT LUXEMBOURG May 24 (Reuters) - MasterCard said it plans to appeal against a decision by Europe's second-highest court to dismiss its legal challenge to an EU ban on its cross-border credit card fees. The Luxembourg-based General Court upheld a 2007 decision by the European Commission that MasterCard's cross-border multilateral interchange fee (MIF) levied on retailers' credit and debit card transactions breached EU antitrust rules and had to be changed. "It is our intention to appeal as soon as we've analysed the more than 60-page judgement," MasterCard President Javier Perez said in a statement on Thursday. "We will likely continue to discuss with the Commission what would be the best way forward." For the time being, MasterCard will continue to apply reduced cross-border fees imposed since 2009 in a bid to avoid penalty payments for not complying with the 2007 decision, Perez said.

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