June 11, 2020 / 4:14 PM / a month ago

Italy's competition watchdog opens probes into top banks over debt support measures

MILAN, June 11 (Reuters) - Italy’s antitrust authority said it was probing four financial institutions, including the country’s top two banks, for alleged lack of information over liquidity measures deployed by the state to help businesses and households face the virus crisis.

The antitrust said the four institutions - UniCredit , Intesa Sanpaolo, Banca Sella and consumer credit group Findomestic - were suspected of having imposed on retail customers unnecessary conditions to access the measures.

In a statement on Thursday, the regulator also said the banks may have failed to provide clear information regarding the eventual increase in interest payments stemming from payment suspensions under debt holiday schemes.

It was not immediately possible to have a comment from the interested parties.

Reporting by Valentina Za, editing by Giulia Segreti

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