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The European Commission aims to combat “insufficiently transparent” bank charges.

To this end, explains Der Standard, it is planning to introduce a common framework for information on charges, which will apply in all EU countries. Once it has been established, customers will regularly be informed of the costs associated with running their current accounts.

The project, which also includes regulations to make it easier to open a basic account and to switch to another bank, is to be presented on May 8 by the Commissioner for Internal Market and Services, Michel Barnier, and Health and Consumer Policy Commissioner Tonio Borg.