A recent study conducted on behalf of the European Commission 2 mentions that banks and their customers are expected to benefit from SEPA. It is calculated that these benefits could reach € billion (cumulative over six years).
In that regard, the Federal Reserve has proposed new rules to strengthen regulatory oversight and to protect consumers in the future, and we continue to assess this episode to determine what more can be done to help homebuyers and homeowners. Of course, one of the most effective ways to help consumers is to empower them with information.