EUROPE: EURO EXCHANGE FEES UNDER INVESTIGATION

Article Abstract:

The European competition commissioner Mario Monti has evidence that some banks are fixing fees for exchanging euro-zone bank notes. Consumers and politicians had complained that fees had increased despite rates for exchanging other European currencies such as the French Franc or the German mark were unchanged. It raises the prospect of heavy fines for the banks.

Banking Institutions, Depository Credit Intermediation, European Union, Exchange Rates, Banks (Finance)

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Treasury denies U-turn as Paycom is ditched

Article Abstract:

The UK government has abandoned plans to establish Paycom, a banking sector regulator. Instead, the regulation of the payments system will become the responsibility of the Office of Fair Trading.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Economic policy, Banking law, United Kingdom. Office of Fair Trading

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Banks move to adopt an open door policy

Article Abstract:

The problems associated with opening a bank account in the UK are discussed. Banks feel that they must make it hard to open an account in order to adhere to government regulations, but this can cause difficulties for people who do not have the necessary proof of identity.

Management, Bank accounts

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