Banks should not use Covid-19 as pretext to slash banking services, Sant insists

Alfred SANT in the EP in Strasbourg

Banks’ shift to online services in the wake of the Covid-19 pandemic is a source of concern to Labour MEP Alfred Sant, who questions whether they are using the pandemic to permanently reduce the retail banking services they offer to consumers.

The former prime minister said that this reduction of retail banking services across all levels was particularly detrimental to lower-income consumers and pensioners.

He tabled a parliamentary question on the issue, asking the Commission to explain its efforts to avoid such a situation.

Sant also tabled an amendment for the Annual Competition Report that will be voted on in next week’s plenary session at the European Parliament, in which he proposes that the Commission should make any state aid to banks conditional on the same banks retaining their full retail and consumer banking services.