Strengthening Cooperative Banks: Data Access and New Support Rules
This new law introduces changes to the functioning of cooperative banks, aiming to enhance their stability and security. Cooperative banks will gain the ability to check the PESEL register to determine if an inactive member is alive, which may impact data privacy. New rules for financial support to struggling banks have also been introduced to protect customer savings.
Key points
Cooperative banks can check the PESEL register to confirm if a member is alive after 5 years of no contact, which may affect data privacy.
The Financial Supervision Authority's oversight of cooperative bank association agreements has been strengthened to increase system security and protect savings.
New financial support mechanisms for cooperative banks during mergers have been introduced to prevent problems and protect customer funds.
Sharing of bank secrecy information is now permitted for new financial support agreements, affecting client data.
94%
VOTING RESULTS
2026-01-23
For
410
Against
0
Abstain
24
Status:
Enacted
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