GLG News by Bankruptcy Experts: Lawyers (EU)

To prevent the mortgage meltdown from spreading to payment cards, Congress will suspend aggressive reforms against bankcard lenders and other government pressure (from the feds and perhaps the DoJ) will help to minimize their risks in the interchange antitrust lawsuits.  Thus what Paulson...

Efforts by the EC and UK to stop cartel price fixing threaten bankcard interchange The threat will worsen if they allow private class actions to enforce antitrust standards.

* Major fault by the Romanian state * Fair competition is a fundamental right * the role f the European Commission

Visa's has proposed a global corporate restructure and IPO to help distance itself from antitrust risks.  Its recent filings with the SEC explaining its plan is an exceedingly complex, dreary and foreboding document.  It does not inspire confidence. 

Federal regulatory preemption of state law is crucial to the retail banking industry with respect to credit cards, mortgages, loans.The Supreme Court considered a case today involving Wachovia Bank and its regulator, the Comprtoller of the Currency (OCC) vs. the state of Michigan.Michigan, joined by...

The EC in Brussels is pressuring MasterCard to lower the interchange fees it charges to merchants, just as Visa did several years ago in a settlement with the Commission.  A concession by MasterCard could result in revenue losses in the billions for its European issuers and open the door for repeat...