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Engagements

Evaluation of the anti-competitive effects of a new regulation in the payment and settlement sector

Lear has been appointed by a consortium of banks to analyse the effects of the new Direct Access Fee (“DAF”) proposed by Bancomat S.p.A. to replace the Multilateral Interchange Fee (“MIF”), currently under scrutiny of the Italian Competition Authority. Lear is developing an analysis that shows how the MIF does not distort competition as suggested by Bancomat, and that in any case the DAF Could only weaken competition among banks, ultimately to the detriment of consumers.