The banking sector has faced numerous competition investigations over many years and in different countries as well as continual regulatory change and challenge. EPC staff have advised on these investigations in the UK, Australia, Ireland and South Africa. Within these investigations, payment systems and how they operate have frequently been associated with competition concerns. Weaknesses in competition in some areas have also led to complaints about unfair charges being associated with different product features in the banking sector leading to price capping of various charges.
- Advice to Pay.UK on competition issues in the NPA
Advice on competition issues surrounding the New Payments Architecture within UK payment systems
- Advice on payment scams
Advice to Pay.UK on authorised push payment scams
- Competition advice to the PSR
Significant economic advice to the newly created Payment Systems Regulator particularly related to questions of competition in various parts of payment systems.
- Advice on consumer credit
Advice to the FCA’s Chief Economist Department on competition aspects related to the FCA’s new consumer credit remit.
- State Aid advice in banking
Advice to HM Treasury during the credit crisis on the competitive effects of State Aid in the banking and mortgage markets. Advice to the Department of Finance in Ireland on mergers and State Aid in the banking sector.
- Advice on prudential standards
Advice on changing prudential standards for banks, the impact on non-banks and resulting effects on competition between banks and non-banks
- Advice on unauthorised overdrafts
Advice to a major high street bank in connection with litigation surrounding unauthorised overdraft fees.
- Competition advice in banking and payments
Advice on competition in banking and payment systems for a major South African bank during the South African Competition Commission’s investigation of the banking sector.
- Report on impact of interchange fee regulation
A report for MasterCard Worldwide on the impact of interchange fee regulation in Australia. The report is available from MasterCard’s website here.
- Competition advice on interchange fees
Advice on interchange fees for payment cards and ATMs for one of the largest UK card issuers and acquirers in OFT and EC investigations.