NAB/VISA

The Australian Competition and Consumer Commission notes that Visa International has applied to be made a party to the proceedings commenced by the ACCC against National Australia Bank alleging price fixing in relation to credit card interchange fees. The case is currently scheduled for a directions hearing in the Federal Court, Melbourne on Friday 9 February 2001.

The ACCC is continuing to participate in discussions with NAB and other leading banks in an attempt to resolve the concerns identified by the ACCC in relation to the setting of credit card interchange fees.

In order to allow these discussions to continue the ACCC and NAB have agreed to request that the question of parties being joined to the proceedings be re-scheduled to the end of March 2001.

The ACCC will propose that the application by Visa to be made a party to the proceedings be dealt with at that time.