EU Antitrust Team Raids Banks For 'Blocking' Fintech Firms

Law360, London (October 9, 2017, 1:19 PM BST) -- European Union antitrust officials have raided a series of banks across the bloc following concerns they have blocked access to accounts for financial technology companies, it was revealed late Friday.

The European Commission, the bloc’s executive, carried out the inspections “in a few member states,” later confirmed by industry groups to be the Netherlands and Poland, on Oct. 3.

The Commission said it had concerns about cartel-like collusion between banks and their representing associations to stop financial technology firms gaining access to customer accounts after receiving...
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