The Ministry of Finance is to release today a proposal for regulating some banking fees and impose account number portability. The MinFin in particular does not like the fees for closing accounts, which it sees like a limitation on banking competition. Among other things, the proposal also calls for requiring banks to give one month’s notice before changing their fees. The ministry proposal states that the main obstacle to truly open competition is the difficulty of switching banks. It will still take time before the new regulations come into force, but in general the news is slightly negative for banks.