The chief executive of the association, Andreas Krautscheid, warns of international platforms with enormous data power that are increasingly penetrating the payment transaction field. Krautschied has stated that a European regulation should be brought about that ensures fair competition and data protection. According to the WirtschaftsWoche, he affirmed that currencies do not belong in the hands of private individuals but under state control.
The Association of German Banks is the association of private banks in Germany and the main lobby group for Germany's financial sector.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now