The Italian Competition Authority imposes the Italian Banks Association to withdraw its guidelines which were capable of restricting competition (Associazione Bancaria Italiana)

Background ABI is a non-profit association to which nearly all Italian banks belong. In August 2006, the Italian Banking Law (Legislative Decree n° 385/1993) was amended by Law n° 248/2006. Art. 10 of Law n° 248/2006, which lays down provisions that banks have to respect when changing unilaterally the contractual clauses applied to their clients on existing accounts. In particular, unilateral changes unfavourable to customers must be motivated. In addition, banks are obliged to communicate such changes with a 30-day prior notice. Clients are allowed to terminate their contracts with

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Denis Fosselard, Vito Auricchio, Benedetto Brancoli Busdraghi, The Italian Competition Authority imposes the Italian Banks Association to withdraw its guidelines which were capable of restricting competition (Associazione Bancaria Italiana), 10 July 2007, e-Competitions Interim measures, Art. N° 21011

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