Public financial sector: The French Competition Council sets the frameword of a future universal banking service (CCLCV)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. – Cons. conc. opinion No. 05-A-08 of 31 March 2005 relating to a request for an opinion from the Confédération de la Consommation, du Logement et du Cadre de Vie on the conditions under which the introduction of a basic banking service could be envisaged. In essence, the Council replies that the establishment of a universal service is not in itself incompatible with the competition rules. Nevertheless, it is necessary to ensure that the mechanisms for selecting operators and financing do not create distortions of competition in the banking market. Its response is based on a twofold assumption: it assumes that the public authorities have previously decided to