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. Last Updated: 07/27/2016

Banks Fix Euro Fees

BRUSSELS, Belgium -- European Competition Commissioner Mario Monti said Tuesday he had evidence that some banks had fixed fees for exchanging euro-zone bank notes, raising the prospect of heavy fines from Brussels.

"It seems that our suspicions are proved correct, at least in several countries," Monti told the European Parliament's economic and monetary affairs committee.

Monti said a statement of objections, a notice served by the commission when it believes it has enough evidence to fine companies for operating a cartel, could be served soon.