Islandsbanki hf. : Competition Authority settlementÍslandsbanki has made a settlement with the Icelandic Competition Authority (CA) regarding a particular implementation on the payment card market. Íslandsbanki was first to reach a settlement with the CA but the examination also included Arion Bank, Landsbanki, Borgun and Valitor.
Íslandsbanki is committed to contribute to changes in the market concerned, to ensure the independence of the board members pointed by the Bank in Borgun and to pay fines totalling ISK 380 million, already charged. Additionally, the Bank will increase transparency and streamline the Bank's operations in the payment card market.
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