Banking law

Order Description
OSCOLA REFERENCING ONLY

‘This new law [PSD2], proposed by the European Commission in July 2013, enhances consumer protection, promotes innovation and improves the security of payment services. PSD2 is the latest in a series of laws recently adopted by the EU in order to provide for modern, efficient and cheap payment services and to enhance protection for European consumers and businesses.’

[European Commission – Press release
European Parliament adopts European Commission proposal to create safer and more innovative European payments
Brussels, 8 October 2015]

With reference to the above statement, critically evaluate how far PSD2 ‘enhances consumer protection, promotes innovation and improves the security of payment services.’ What challenges might PSD2 pose for banks?

Banking law

Order Description
OSCOLA REFERENCING ONLY

‘This new law [PSD2], proposed by the European Commission in July 2013, enhances consumer protection, promotes innovation and improves the security of payment services. PSD2 is the latest in a series of laws recently adopted by the EU in order to provide for modern, efficient and cheap payment services and to enhance protection for European consumers and businesses.’

[European Commission – Press release
European Parliament adopts European Commission proposal to create safer and more innovative European payments
Brussels, 8 October 2015]

With reference to the above statement, critically evaluate how far PSD2 ‘enhances consumer protection, promotes innovation and improves the security of payment services.’ What challenges might PSD2 pose for banks?

Banking law

Order Description
OSCOLA REFERENCING ONLY

‘This new law [PSD2], proposed by the European Commission in July 2013, enhances consumer protection, promotes innovation and improves the security of payment services. PSD2 is the latest in a series of laws recently adopted by the EU in order to provide for modern, efficient and cheap payment services and to enhance protection for European consumers and businesses.’

[European Commission – Press release
European Parliament adopts European Commission proposal to create safer and more innovative European payments
Brussels, 8 October 2015]

With reference to the above statement, critically evaluate how far PSD2 ‘enhances consumer protection, promotes innovation and improves the security of payment services.’ What challenges might PSD2 pose for banks?