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Iceland’s Competition Authority fines Visa and MasterCard

Documents recently translated into English contain details of substantial fines imposed by the Competition Authority of Iceland (CAI) on the local companies Visa Iceland/Greidslumidlun and MasterCard Iceland/Kreditkort for ‘serious violations” of the Competition Act over a prolonged period. At the time both were consortia owned by the Icelandic banks. Following the model established in most [...]

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