Overview

• The Chamber of Deputies voted 254-0 to add Article 1857-bis to the Civil Code and the bill now moves to the Senate for final approval.
• Under the new law, banks must open current accounts for any applicant and cannot close them if balances are positive except for documented anti-money-laundering or counterterrorism reasons.
• The cross-party initiative by Lega, Fratelli d’Italia and Noi Moderati responds to cases where account closures deprived citizens of access to essential financial services.
• Prior EU-mandated basic accounts failed to prevent arbitrary denials and closures, leaving many Italians effectively unbanked.
• Banca d’Italia and the Italian Banking Association have warned that the proposal could clash with European regulations, restrict contractual freedom and prompt higher fees.