EU banks warned on account switching

The European Commission set out on the 20 November 2007 is Single Market Review - a package of initiatives to modernise the European single market and to bring more benefits to Europeans, building on past successes.

Amongst proposals Europe’s leading banks were warned that they could face regulatory action if they fail to draw up a ­voluntary code allowing consumers to move their accounts more freely.

European Commission: Secretariat General: Citizens' Agenda: Single Market Review http://ec.europa.eu/citizens_agenda/single_market_review/index_en.htm

European Commission: SEC (2007)1520: Commission Staff Working Document: Initiatives In The Area Of Retail Financial Services http://ec.europa.eu/citizens_agenda/docs/sec_2007_1520_en.pdf

European Commission: DG Internal Market: Future Single Market Policy http://ec.europa.eu/internal_market/strategy/index_en.htm

Deutsche Welle, 21.11.07: EU Plans Giant Step Toward Single Market http://www.dw-world.de/dw/article/0,2144,2960358,00.html

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