The European Banking Authority (EBA) has hit out at revisions to its rules forcing card schemes to separate processing from rule-making, warning that proposed amendments are “ambiguous” and could stifle competition from smaller firms.
In January, the European Commission suggested six amendments to the EBA’s final draft of regulatory technical standards on the separation of card schemes and processing entities, which forms part of the EU-wide Interchange Fees Regulation (IFR).
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