For typical banking transactions, the law assigns such supervision to the Bank of Italy. This activity has been stepped up in recent years. We have set up a special unit to monitor banks’ relations with customers. We have drafted a radical revision of the regulations under our jurisdiction.
Tomorrow, public consultation will begin, using the Internet, on two major proposals: one for the practical institution of the new procedure for out-of-court settlement of disputes between banks and customers; the other for new provisions, designed in part through discussions with associations of banks, other intermediaries and consumers, to make the protections for correctness in dealings with customers more effective.