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Briefing
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- Anti-Competitive Inspections – European Commission conducted unannounced inspections in member states Holland and Poland on October 3, 2017 to investigate if banks deliberately kept non-bank financial providers, such as financial technology firms, from accessing customer data despite customers’ authorization
- Accusation against Banks – Financial technology or fintech firms claimed banks limit their access to customer data and prevent them from providing innovative new services
- Potential Anti-Trust Violation – Banks involved may have broken EU antitrust rules that ban cartels, restrictive business practices and/or abuse of dominant market positions
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Market Disruption
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Sector
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Financial Services
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Organization
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European Commission
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Source
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Original Publication Date
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October 6, 2017
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