Banks must implement these initiatives without delay, provide the necessary assistance to customers and seize the attendant competitive opportunities. Steps should be taken to replace the maximum-overdraft fee with transparent forms of remuneration commensurate with the size of the loan commitment.
I believe that by now banks are fully aware of the need to act promptly and effectively on these two fronts, not least to safeguard the system’s reputation. The present rules on the transparency of contractual conditions for banking customers were instituted by the Bank of Italy in 2003; in recent years they have helped to increase the correctness of banking relations.