News: Negotiations Reopen on US Access to SWIFT Bank Data

From the Lift: The EU and US have begun talks on a new agreement to enable transfers of European bank transfer information held on the SWIFT database to US authorities. Talks are taking place between the European Commission and United States Treasury and it is hoped an agreement can be reached by the end of June:

A Commission source told Euractiv.Com that “in the coming months little will be known about the substance of the actual negotiations”

The agreement will be concluded only after the adoption by the member states of the EU at qualified majority voting and the approval of the European Parliament. The Parliament introduced two weeks ago theconditions on the content of a future agreement, including for bulk transfers of personal data to the USA to be avoided, if necessary by processing them within the EU, and for Europe’s citizens to be guaranteed the right of appeal to the US authorities.