EU court adviser rejects Mastercard's appeal on card fees

LUXEMBOURG Thu Jan 30, 2014 4:09am EST

An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon November 15, 2012.REUTERS/Soe Zeya Tun

An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon November 15, 2012.

Credit: Reuters/Soe Zeya Tun

LUXEMBOURG (Reuters) - An adviser to Europe's top court rejected on Thursday an appeal by MasterCard (MA.N) against a European Union ban on its cross-border card fees.

"I propose that the court should dismiss the main appeal and the cross appeals," Advocate General Paolo Mengozzi said in his opinion.

Judges at the Luxembourg-based European Union Court of Justice, who follow the advisers' recommendations in the majority of cases, will rule in the coming months.

The European Commission had said that MasterCard's cross-border multilateral interchange fee, levied on retailers' credit and debit card transactions, violated EU antitrust rules and had to be changed.

(Reporting By Foo Yun Chee; editing by John O'Donnell)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article