(BBG) Portugal Bankers Ask for Regulatory Neutrality to Face Fintechs

(Bloomberg) — Regulation must be neutral to ensure fintech
challengers follow the same rules as traditional banks, the
leaders of Portugal’s biggest banks say at a conference in
Lisbon.
* You can’t leave the costs of keeping deposits and long-term
loans to the banks and transfer all the revenue in processing
payments and consumer loans to new competitors, Caixa Geral de
Depositos CEO Paulo Macedo says
* “Who and how will the new payment areas be regulated? Who will
pay the costs of regulation? We need a clear level playing
field,” Banco Comercial Portugues CEO Nuno Amado says
* If regulation is neutral, banks will do their job and will be
able to compete. That needs to be ensured, Banco BPI CEO Pablo
Forero says
* NOTE: Jan. 12, Fintech Challenge to EU Banks Advances as
Payments Law Kicks In