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Argentina's Banco Galicia sued over credit card insurance fees

Argentine consumer watchdog ADUC has filed a class-action lawsuit against Banco de Galicia y Buenos Aires SA alleging the bank charged unfairly for a life insurance fee on credit card products.

The consumer watchdog is also suing Prisma Medios de Pago SA, American Express Argentina SA and Mastercard-operator First Data Cono Sur in the same case.

In a statement, the bank said it was analyzing the case and its potential implications.