Crédit Mutuel

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Crédit Mutuel S.A
Type Société Anonyme
Industry Financial services
Founded 1882 (1882)
Headquarters Strasbourg, France
Area served Worldwide
Products Banking, Corporate banking, Private banking and insurance
Revenue €1,465 million (2013)
Operating income €4,546 million (2013)
Net income €11,977 million (2013)
Employees 75,805
Website creditmutuel.com

Crédit Mutuel is a major French bank, with headquarters in Strasbourg, Alsace. Its slogan is "La banque à qui parler" (The bank to speak to). It is currently run by Michel Lucas and Alain Fradin and has 7.4 million customers – roughly half of whom live in the Grand-Est, i.e. Alsace, Lorraine, Franche-Comté and Burgundy. It is a member of the International Raiffeisen Union (IRU), which is an association of cooperatives based on the ideas of Friedrich Wilhelm Raiffeisen.[1]

Controversy[edit]

In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks, including Crédit Mutuel, the sum of €384,900,000 for colluding to charge unjustified fees on check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer.[2][3]

See also[edit]

References[edit]

  1. ^ http://www.iru.de/index.php/mitglieder/e-k?lang=en
  2. ^ Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20
  3. ^ 3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel , Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 2010 9 20

External links[edit]