Saturday, January 7, 2017

Cartel agreement: plaintiffs demand billions of payment of German banks – TIME ONLINE

The well-known US law firm home field prepares according to a report in the Bild am Sonntag damages against German banks from lawsuits in the billions. Affected savings banks, public banks and private institutions such as Deutsche Bank. The plaintiffs are suing the Gelfhäusern cartel agreements, which, for years, to excessive charges should have merged when you Pay with debit cards.

A representative of the law firm in Germany Christopher Rother, the newspaper said, home field is responsible for “several high-profile clients”. Large oil belonged to corporations and well-known trading. US star Prosecutor Michael home field has recently demanded compensation for the VW customer in the exhaust gas affair.

for Years, the dealer paid, therefore, a fixed fee of 0.3 percent of sales to the banks. Only under pressure from the Federal cartel office, the money houses of 2014, committed to the fact that the retailer may negotiate the fees with the banks. According to the Federal cartel office, the costs fell by up to 40 percent. According to the trade Association in 2015 to a value of almost 100 billion euros were paid by debit cards.

The law firm wants to claim the in their view excessive fees, according to the report, retrospectively, for a period of ten years. The lawsuits are soon to be in the Frankfurt district court filed. A spokesman for the German banking industry told the newspaper, here an American plaintiff law firm will try to “” apparently, “single German trading company in lawsuit against the credit economy drive”. The credit industry can see no basis for this.


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