EBA Issues Second Warning Over Payments Firms' Brexit Plans

The European Banking Authority (EBA) has again warned European firms not to leave customers in the dark about the potential impact of the UK’s withdrawal from the EU.

The EBA’s alarm, sounded on Monday afternoon, comes as political deadlock in London and Brussels’ refusal to re-enter negotiations pushes the UK further toward the precipice of a no-deal Brexit.

In a statement released on Monday, the union’s top banking and payments watchdog said it has seen “little evidence of financial institutions communicating effectively to their customers on how they may be affected by the UK withdrawal”.

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