Itaú and Redecard reach an agreement with Cade and pay R $ 21 million

<img src = "https: // abrilexame.files.wordpress.c om / 2017/06 / itac3ba.jpg "clbad =" abril-image optimized lazyload "abril-data-id =" 2991187 "sizes =" (min-width: 991px) 680px, (max-width: 420px) 420px, ( max-width: 360px) 360px, "srcset =" https://abrilexame.files.wordpress.com/2017/06/itac3ba.jpg?quality=70&strip=info&resize=680,453 680w, https: //abrilexame.files.wordpress .com / 2017/06 / itac3ba.jpg? quality = 70 & strip = all & resize = 420,280 420w, https://abrilexame.files.wordpress.com/2017/06/itac3ba.jpg?quality=70&strip=all&resize=360,240 360w, " alt = " Itaú and its subsidiary Redecard signed an agreement with the Board of Directors for Economic Defense (Cade) and will pay 21 million reais to terminate the Ongoing investigation in the body where companies are suspected of anticompetitive practices in the credit market C & # 39; is the highest amount already paid in settlement in case of unilateral behavior, which occurs when & # 39; 39, a society imposes barriers to entry

The investigation was opened in March 2016. It also investigates Bradesco and Banco do Brasil and its subsidiary Cielo, suspecting institutions to sign exclusive contracts with business practices and the adoption of practices such as the sale of marriages, retaliation and discrimination in the collection of tariffs. Therefore, they would prevent the trader from having access to other creditor companies, which would be detrimental to competition.

Moreover, the banks would refuse to "read" the accounts receivable of the small merchants, that is to say, receive from their card transactions and, consequently, make it impossible to obtain loans for anticipate these claims, a common practice in commerce. On the other end, the major accreditation companies would hinder access to information about the claims of small banks.

The proposed agreement was presented to Cade by Itaú in June of this year and approved at the body's meeting on Wednesday. Councilor João Paulo Resende however voted against the homologation of the compromise because he understands that the value of the fine is low compared to the conduct adopted in a highly concentrated sector. "I understand that we should be giving a stronger message to the market that this kind of behavior would not be tolerated," he said.

Cade president, Alexandre Barreto, said that the agreement is important and will allow greater freedom of negotiation. commercial establishments, accreditation companies and banks. "The main benefit to society is precisely the cessation of the behaviors being investigated," he added.

In addition to the fine, Itaú and Redecard have committed to cease anticompetitive practices. Itau and Redecard had already signed an agreement with Cade in the context of another lawsuit that was investigating exclusive agreements between flags and credit card issuers.

Other side

In a note, Itaú Unibanco states that:

"Throughout the administrative investigation, Itaú Unibanco and the Network collaborated proactively with the CADE clarifying the practices reviewed, reiterating its commitment to open competition in the market Itaú Unibanco and Rede decided to review certain procedures by making commitments to CADE, to implement on time and without recognizing guilt in relation to the conduct sought, but rather as evidence of commitment to the continuous improvement of its practices. (s) forms provided for in the agreement with the authority. "[19659015] (function (d) {var id = "facebook-jssdk"; if (! d.getElementById (id)) {var js = d.createElement ("script"), ref = d.getElementsByTagName ("script") [0]; js.id = id, js.async = true, js.src = "https: / / connect.facebook.net / en_br /all.js ", ref.parentNode.insertBefore (js, ref)}}) (document) [ad_2]
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