On 26 April 2010, Visa Europe submitted commitments to the European Commission to reduce the fees it charges for debit card payments. In 2009, the Commission sent the company a Statement of Objections regarding its multilateral interchange fees. These are charges set by the bank which are paid by retailers for processing card payments and which are typically passed on to consumers through higher prices. The Commission informed Visa that it regarded the fees as disproportionate and a potential breach of Article 101(1) TFEU. In reply, Visa committed to reduce its fees to a maximum of 0.20% of the final price of a product or service paid for by debit card. The proposals will now be market tested before the Commission decides whether to make them legally binding on the company under Article 9 of Regulation 1/2003.