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Reding Assures Parliament on Bank Transfer Conditions

FINANCIAL PRIVACY—EU

March 19, 2010

EU justice commissioner Viviane Reding has assured members of the European Parliament that their demands for data protection concerning European bank transfers "will be guaranteed," reports theParliament.com. Parliament recently rejected an agreement to share bank transfer data with the U.S. on the grounds that the accord failed to adequately consider the privacy of EU citizens. At a European Policy Centre debate in Brussels yesterday, Reding said, "I can tell you that, following discussions with the American authorities, the guarantees regarding privacy which were required by parliament will be met." German MEP Martin Schulz said, "The EU and U.S. Obama administration have accepted MEP concerns."
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