The Competition and Market Guarantor Authority has launched four investigations against the main banks and financial companies (Unicredit, IntesaSanPaolo, Banca Sella and Findomestic) on issues that have emerged, both in relation to the lack of information on access times to the various support measures dictated in favor of micro-enterprises and consumers, as well as clear indications on the charges deriving from the suspension of the repayment of the loans granted to companies, in terms of the increase in overall interest compared to the total originally due, following the extension of the repayment plans.

In addition, banks allegedly placed illicit conditions on access to such measures, such as opening a bank account or complying with specific requirements not required by legislation, or allegedly attempted to divert applicants to different and potentially more burdensome forms of access to credit compared to those provided for in the Liquidity Decree.

As regards 12 other banks and financial institutions (BNL, Banco BPM, UBI Banca, Crédit Agricole, Credem, MPS, Banco Popolare di Sondrio, Creval, BCC Pisa, Agos Ducato, Compass and Fiditalia), the Authority has started moral suasion, having found the same shortcomings in terms of information on response times and on the actual terms and conditions for accessing the suspension of loan repayments.

Therefore, the Authority, finding a series of critical problems, by users, in obtaining the deferral of debt exposures to banks and financial companies and having access to liquidity and credit (as required by the "Cura Italia" and Decrees liquidity) have deemed it necessary to intervene in the belief that only transparent behavior, with complete and clear information and without unjustified obstacles, can guarantee consumers and businesses the financial support necessary to face the current emergency.

Rome, 11 June 2020