EU Investigates Possible Dutch And Polish Blocking Of Fintech Services

www.oann.com | 6/14/2017 | Staff
morica (Posted by) Level 3
BRUSSELS (Reuters) – EU antitrust authorities are investigating Dutch and Polish banking associations and their members to determine whether financial technology services are being blocked from accessing customer account data.

The two bodies were the targets of dawn raids by the European Commission last week, spokesmen from both associations confirmed on Monday.

Commission - Investigation - Banks - Industry - Associations

The Commission said the investigation would focus on whether banks and their national industry associations acted as a cartel or abused their dominance.

Representatives of the German, British and French banking bodies said they were not raided.

EU - Investigation - Efforts - Commission - Technology

The EU investigation comes amid efforts by the Commission to attract more financial technology, or fintech, companies to catch up with the United States and China. One of its directives requires banks to provide customer data to...
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