Saturday, March 3, 2012

Visa Europe 'Disappointed' With EU Court's Decision To Uphold Fine.(News)

Byline: Stephanie Bell

Visa Europe is expressing dissatisfaction with last week's General Court of the European Union's decision to uphold the 10.2 million euro (US14.7 million or A[pounds sterling]8.7 million) fine imposed on the company for refusing to do business with a U.S. bank, saying it had already settled the dispute in 2006.

The European Commission originally fined Visa in 2007 because for six years the card brand refused to allow the British subsidiary of Morgan Stanley into its network, the commission noted in an April 14 news release. Visa's refusal meant that Morgan Stanley clients could not purchase items through the Visa payment system in the United …

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