On 14 September 2019, the updated Payment Services Directive (PSD2) took effect in the European Union, with potentially far-reaching consequences for the European financial sector. This policy brief particularly deals with aspects related to personal data protection, while also considering other current developments in the financial sector that affect the protection of personal data in the EU:
- law enforcement access to financial data,
- personalized banking services, and
- new entrants in the market, including moves by big technology companies.