Mastercard Fined $650M by EU for ‘Artificially’ Raising Fees

Mastercard Fined $650 Million by E.U. for ‘Artificially’ Raising FeesThe European Union’s competition commission has handed Mastercard a €570 million euro ($648 million) fine for artificially raising payment processing fees in breach of antitrust laws, according to an online statement published on Jan. 22. Mastercard forced merchants to pay exchange fees in their countries of residence, forestalling their access to banks with lower fees […]

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Public Anger Forces Bank CFO to Quit Over Huge Money Laundering Affair

Public Anger Forces Bank CFO to Quit Over Huge Money Laundering AffairBank executives rarely get punished for their misdeeds, leading to many people distrusting the entire banking system as plagued with widespread corruption. But once in a while someone has to bite the bullet. Recently, public anger has forced a CFO of a major bank to quit after a huge money laundering affair came to light. […]

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