Check Fee Collusion
In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven French banks, including HSBC France, the sum of 384,900,000 Euros for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.
Read more about this topic: HSBC France
Famous quotes containing the words check and/or fee:
“This fellow is wise enough to play the fool,
And to do that well craves a kind of wit.
He must observe their mood on whom he jests,
The quality of persons, and the time,
Not, like the haggard, check at every feather
That comes before his eye. This is a practice
As full of labor as a wise man’s art.”
—William Shakespeare (1564–1616)
“As a general rule never take your whole fee in advance, nor any more than a small retainer. When fully paid beforehand, you are more than a common mortal if you can feel the same interest in the case, as if something was still in prospect for you, as well as for your client.”
—Abraham Lincoln (1809–1865)