Press Release: Competition: Commission holds public hearing on competition in retail banking

The European Commission is holding a public hearing in Brussels on 17 July 2006 to discuss the preliminary findings of its sector inquiry into competition in retail banking. The sector inquiry is looking at the markets for payment cards and for core retail banking services in the EU. In its interim report on payment cards, published in April (see IP/06/496 and MEMO/06/164), the Commission highlighted significant market barriers which pushed up prices for firms and consumers. The Commission has now published its interim report on core retail banking services, including current accounts and related services, which shows clear evidence of fragmented markets and of areas where markets are not working as well as they should. The Commission is keen to learn the views of all stakeholders as to the causes of these problems, before reaching final conclusions.

European Commission: DG Communication: SPEECH/06/458 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/06/458&format=HTML&aged=0&language=EN&guiLanguage=en

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