Within 18 months the 11 largest cooperative banks that have assets exceeding 8 billion euro they will have to abandon the per capita vote ("one person, one vote" regardless of the number of shares held) and transform themselves into a joint stock company. This is the first very important effect of the reform of public banks which definitively became law tonight with the final vote of the Senate on the trust placed by the Government (155 yes and 92 no).
La popular reform it is an epochal turning point for the Italian banking system. The determination of the Renzi government has hit the target at the first blow after twenty years of attempts that have always failed due to the harsh obstructionism of the transversal lobby orchestrated by Assopopolari in defense of the status quo and the positional rents of the "local overlords" of the banks.
Now opens a season of mergers and aggregations between Popolari and beyond.
The decree also accelerates the current account portability. From now on, banks will only have 12 days to execute a customer's request move your checking account for free from one bank to another: if they don't, they will pay hefty fines of up to 64.500 thousand euros.
