The European Savings and Retail Banking Group (ESBG) believes that the draft regulation on access to financial data ‘FIDA’ (see EUROPE B13538A18) is insufficiently aligned with the objective of reducing the regulatory burden, promoted by the European Commission’s ‘Competitiveness Compass’ (see EUROPE B13568A1).
“FIDA, as currently designed, introduces disproportionate burdens, lacks operational feasibility, and does not adequately reflect the radically changed environment since...