(23 March 2017) – The European Commission is today presenting an Action Plan that sets out ways to provide European consumers with greater choice and better access to financial services across the EU.
This means enhancing competition and improving choice so that consumers can enjoy lower prices and better quality, regardless of whether or not they shop abroad for financial services such as bank accounts, car insurance and money transfers.
This Action Plan seeks to prise open national barriers as only 7% of consumers currently buy financial services from another EU Member State.
In a true Single Market, the distinction between domestic and foreign providers should no longer matter. Financial service providers should also be able to reap the benefits of the EU’s entire market.