Economy and Finance Minister Bruno Le Maire has acknowledged "unacceptable situations" and announced a decree to ensure that the most financially fragile households gain access "faster" and "longer" to a cap on their charges. This measure is intended to reinforce the scheme launched at the end of 2018 during the "yellow vests" movement.
Who are the "fragile" customers?
Until now, people considered "fragile " were those registered in the Fichier central des chèques (FCC), those declared eligible for the overindebtedness procedure and those judged to be in a vulnerable situation by the bank. Banks could propose a specific offer to their customers after having noted repeated payment incidents for 3 consecutive months, or when the amount of resources paid into the account was insufficient.
Bruno Le Maire admits that there is some vagueness on the subject, and has clarified the criteria by decree. From now on, a customer will be considered "fragile" if he or she has had 5 banking incidents in any one month. In this situation, the saver can benefit from a ceiling on charges of 25 euros per month and 300 euros per year, over a 3-month period. Over-indebted households remain eligible.
The new measures announced by the Minister should lead to a 15% increase in the number of beneficiaries. They aim to "harmonize rules between different bank customers" and increase transparency on bank charges.
A "name and shame" system for banks introduced in July
Bruno Le Maire has announced the launch of a nominative complaint system in July, to force banks to comply with the scheme without having to resort to legislation. Banks will be required to transmit a number of items of information defined by decree to the Banque de France, which will carry out checks and publish a list of banks that fail to comply.
The opposition does not seem to be satisfied with these announcements. Alexis Corbière (LFI) suggested the introduction of a ceiling for all customers of 2 euros per banking incident, up to a limit of 20 euros per month and 200 euros per year. However, the Minister of the Economy and Finance deemed this proposal "paradoxical", since it would lead to a cap on charges for all households, including the wealthiest. He also stressed the need to "protect a certain number of jobs" in the banking sector. In particular, concerns remain over the future profitability of France's major banks in a context of low interest rates due to ECB policy.