Banks, Payment Providers Agree On Open Banking Standards

Law360, London (July 29, 2019, 1:11 PM BST) -- The European Commission has given its backing to a “gentleman’s agreement” between traditional European lenders and alternative payment companies that allows them to work together to implement the bloc’s open banking rules as they seek to avoid harming mutual customers.

The commission said that commitments made by three European credit sector associations — which represent banks that provide payment services — and two organizations that represent third-party payments providers will help the sector adapt to the revised Payment Services Directive. The rules, known as PSD2, are expected to be fully rolled out across Europe by Sept. 14.

“Banks and [third-party providers]...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Companies

Government Agencies