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French banks can't force borrowers to be deposit-account holders, EU court opinion says

By Jack Schickler ( February 27, 2020, 09:45 GMT | Insight) -- French banks shouldn't be allowed to insist that borrowers hold their main deposit accounts at the same bank where they have loans, a legal opinion prepared for the EU Court of Justice said today. French law breaches EU legislation designed to promote competition in the banking market as borrowers can be made to use the same provider for payments and withdrawals, said Advocate General Saugmandsgaard Øe in a non-binding opinion. French banks shouldn't be allowed to insist that borrowers hold their main checking accounts at the same bank where they have loans, a legal opinion prepared for the EU's highest court said today....

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