France to Probe Swipe Fees

France's Finance Minister has asked lawmakers to investigate the fees charged to merchants by banks and credit card companies on purchases made with plastic.

February 22, 2011

PARIS - French Finance Minister Christine Lagarde asked lawmakers yesterday to investigate the fees charged to merchants by banks and credit card companies on purchases made with cards in France, the Wall Street Journal reports.

The minister said in a statement that he will seek to improve the transparency of those fees, identify when the fees are "unusually high," and increase competition in an effort to lower the fees.

The lawmakers are expected to release a report of their findings by the end of June.

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