AGCM - Autorità Garante della Concorrenza e del Mercato

On 9 January 2019, several banks and car manufacturers were fined by the Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato – “AGCM”) for having infringed competition law by exchanging, according to the AGCM, sensitive information notably during meetings of two trade associations (1). In this decision, FCA Bank SpA, a subsidiary owned at 50% by Credit Agricole Consumer Finance S.A.(2) , was fined 178.9 million euros owing to its alleged violation of competition rules. CA Consumer Finance Group will take into account the consequences of this fine, which will have an impact of around €70 million.