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EU slaps €485m fine on 'cartel' banks
By EUobserver
The EU commission on Wednesday fined Credit Agricole, HSBC and JPMorgan Chase €485 million for having set up a cartel in euro interest rate derivatives. EU competition commissioner Margrethe Vestager said "banks have to respect EU competition rules just like any other company". Other banks involved in the scheme had chosen to settle with the commission in late 2013.