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EU antitrust conducted inspections over limits to bank accounts' access

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EU antitrust conducted inspections over limits to bank accounts' access

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BRUSSELS (Reuters) – The European Commission said on Friday it had conducted inspections in some EU states over banks’ alleged anti-competitive practices in limiting rival financial firms from accessing information about their customers’ accounts. The Commission said in a statement it had “concerns” that the companies involved “may have engaged in anti-competitive practices in breach of EU antitrust rules”. It did not name any company. It said that banks could have prevented non-bank competitors from gaining online access to data of their customers to provide financial services, in spite of having obtained a previous authorisation from the customers.

(Reporting by Francesco Guarascio @fraguarascio; editing by Andrew Roche)
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