Crédit Mutuel

Crédit Mutuel is a French cooperative bank, with headquarters in Strasbourg, Alsace. Its slogan is "La banque qui appartient à ses clients, ça change tout!" ("A bank owned by its customers, that changes everything!"). It is currently run by Nicolas Théry and has 32.5 million customers. 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]

Crédit Mutuel
Credit union
IndustryFinancial services
Founded1882 (1882)
Headquarters
Strasbourg
,
France
Area served
Worldwide
Key people
Nicolas Théry (CEO), Daniel Baal (GM)
ProductsBanking, corporate banking, private banking and insurance
Revenue€17.5 billion (2018)
€3.5 billion (2018)
Number of employees
82,000
Websitecreditmutuel.com

Controversy

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
  • List of investors in Bernard L. Madoff Securities

References
  1. "Archived copy". Archived from the original on 2013-11-05. Retrieved 2014-05-18.CS1 maint: archived copy as title (link)
  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

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.