FRANKFURT (Reuters) – The European Central Bank was right to fine Crdit Agricole
“The Court finds that the applicants have not demonstrated that the ECB’s decisions were unlawful,” the General Court said it said in a statement in a case brought by Crdit Agricole and several subsidiaries.
“However, the Court has annulled the contested decisions in so far as they imposed pecuniary penalties of 4,300,000 euros ($4.85 million), 300,000 euros and 200,000 euros, respectively, on the basis that inadequate reasons were given for those decisions.”
(Reporting by Balazs Koranyi, editing by Louise Heavens)


