Home / News

CENTR Warns Against EU FiDA Proposal’s Impact on Consumer Access and Business Continuity

The Council of European National Top-level domain Registries (CENTR) has issued recommendations to modify the EU’s Financial Data Access Regulation proposal, warning about the potentially irreversible effects on European consumers and businesses. CENTR stresses the critical role of ccTLDs in managing the internet’s “phone book” and argues that the proposed domain-level enforcement could harm consumer access to financial data and services.

The Financial Data Access (FiDA) regulation aims to enhance financial services market diversity, emphasizing consumer control over their financial data. However, CENTR believes that the enforcement actions suggested by FiDA, like domain name deletion or suspension, could undermine these goals by limiting access to essential financial information and services.

CENTR advocates for removing domain-level enforcement actions from FiDA, arguing they could detrimentally affect consumers and businesses without offering significant benefits. The association emphasizes the importance of domain names for online identity and business, suggesting that any enforcement measures should align with existing EU consumer protection laws.

Urgent plea for reevaluation: Polina Malaja, CENTR’s Policy Director, calls on EU co-legislators to reconsider the implications of domain name deletions on both the financial sector and consumers. Malaja underscores that FiDA’s intention to diversify financial services and prioritize consumer interests is at odds with the proposed domain-level actions, which could disrupt financial business continuity and restrict consumer access to financial data and services. CENTR’s stance highlights the need for alignment between FiDA proposals and existing consumer protection frameworks.

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

Visit Page

Filed Under

Comments

Comment Title:

  Notify me of follow-up comments

We encourage you to post comments and engage in discussions that advance this post through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can report it using the link at the end of each comment. Views expressed in the comments do not represent those of CircleID. For more information on our comment policy, see Codes of Conduct.

CircleID Newsletter The Weekly Wrap

More and more professionals are choosing to publish critical posts on CircleID from all corners of the Internet industry. If you find it hard to keep up daily, consider subscribing to our weekly digest. We will provide you a convenient summary report once a week sent directly to your inbox. It's a quick and easy read.

I make a point of reading CircleID. There is no getting around the utility of knowing what thoughtful people are thinking and saying about our industry.

VINTON CERF
Co-designer of the TCP/IP Protocols & the Architecture of the Internet

Related

Topics

Brand Protection

Sponsored byCSC

Threat Intelligence

Sponsored byWhoisXML API

DNS

Sponsored byDNIB.com

Domain Names

Sponsored byVerisign

IPv4 Markets

Sponsored byIPv4.Global

New TLDs

Sponsored byRadix

Cybersecurity

Sponsored byVerisign