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Italy regulator claims politician intervened in fate of Banca Etruria

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Italy regulator claims politician intervened in fate of Banca Etruria

A minister in former Italian Prime Minister Matteo Renzi's cabinet spoke to the country's market regulator about a struggling bank where her father was a director, Reuters reported, citing the regulator.

Giuseppe Vegas, the head of Consob, said Maria Elena Boschi had told him she was worried about a merger between Banca Etruria, now called Nuova Banca dell'Etruria e del Lazio S.p.A., and Banca Popolare di Vicenza SpA, due to its possible impact on the local gold industry.

Boschi has denied putting pressure on decision-making concerning the bank. However, opposition parties have called for her to resign.