Sunday, January 8, 2017

US-star lawyer puts German banks under pressure – THE WORLD

updated: 16:01 PM | Reading time: 2 minutes

Berlin – The US law firm home field is preparing lawsuits against German banks, due to, allegedly, in the past, to high merchant fees for payments made with debit and Girokarten.

“We represent a number of renowned clients,” said home field-Germany-in-chief Christopher Rother, the “picture on Sunday”. According to the paper, there are companies in the trade and the petroleum industry.

the name is not called the law firm on demand on Sunday. With the actions from your point of view at the time, the excessive charges are to be recovered. The German banking industry provides for such a method, there is no basis. Rother said his client sought an out-of-court solution.

The banks had announced in April 2014, the up to then usual, single merchant fees for electronic payments with debit cards (formerly EC-card). Until then, retailers in Germany are paid for each payment transaction with the Giro or debit card from the Bank associations fixed fee to the Bank that had issued the card. It is 0.3 of a percentage of the respective revenue amounted to, but at least 8 cents. Sales at gas stations, a reduced rate was applied. The cartel office had criticized this practice as a restriction of competition.

Rother pointed out that the fees were “significantly” dropped since they can be freely negotiated. The “Bild am Sonntag” writes, referring to the Federal cartel office of up to 40 per cent lower fees.

“for years, to be agreed with individual charges in the EC Cash System with trading,” said the Federal Association of German people’s banks and Raiffeisen banks as a representative of the industry on Sunday. “The previous single method was based on a statutory exemption and was coordinated with the German Federal cartel office. A cartel infringement was not, at any time, and has also been by the Federal cartel office found.”

home field, and played about in the procedure for the compensation of forced labourers under national socialism in Germany an important role. Currently, the US law firm wants to bring in the Diesel affair, damages for European VW owners.


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