A year after the collapse of Bulgaria’s fourth largest bank, the Parliament has abolished the country’s banking privacy laws, Reuters reports. Corporate Commercial Bank declared bankruptcy last June, costing the Bulgarian government approximately 3.6 billion levs. The action by Parliament will permit disclosure on accounts, deposits and loans of the bank’s clients, and allow AlixPartners, a forensics investigatory firm, to track and recover the bank’s assets. Last month, Bulgarian Prime Minister Boiko Borisov said all data pertaining to the bank should be publicized so that “everything comes to light.”
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