 In the early 1990s, the Senegalese subsidiary of Société Générale teamed up with the Swiss processed-foods manufacturer Nestlé to illegally dispossess the real estate assets of the Industrial Company of Dairy Products (SIPL), thus leading the dairy company to bankruptcy.In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks, including Société Générale, the sum of 384,900,000 Euros 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.In December 2013, the European Commission fined the bank close to 446 million Euro for its role in the LIBOR scandal regarding interest rate derivatives.