European Parliament Adopts Action Plan on Retail Financial Services

On November 14, 2017, the European Parliament adopted the provisional action plan (2017/2066(INI)) to be implemented in relation to retail financial services, with the aim of ensuring consumer protection in the context of striving towards a robust technology-enabled single market for retail financial services, while at the same time creating new business opportunities for European start-ups and fintechs.

The European Parliament outlined the following factors that led to such initiative:

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