PSD2: Strong Customer Authentication - A Political Football?

Strong Customer Authentication (SCA) has become a political football passing between the European Banking Authority and the European Commission. The EBA's Opinion issued on 29 June objects to amendments that the Commission intends to make to the EBA's final draft Regulatory Technical Standards on SCA and Common and Secure Communication (the RTS). This back and forth between the EBA and the Commission is unusual, though it is part of a trend that has seen the EBA become more assertive. While the implementation date of 13 January 2018 for the recast Payment Services Directive (PSD2) is fast approaching, in contrast the expected date for the RTS to take effect is slipping further away.