In consideration of the changes of increasingly sophisticated digital banking services in Europe and the EU Commission’s strategy for a Digital Single Market, the actual reform of the data protection rules in the EU need to be closely observed because such rules are also quite important for the future of the Digital Single Market. On 15 June 2015 the Council of the EU has approved its version of the Regulation (see http://data.consilium.europa.eu/doc/document/ST-9565-2015-INIT/en/pdf).The completion of this data protection reform is now planned for the end 2015. The aim of this new Regulation is to give EU citizens control over of their personal data, and to simplify the regulatory environment for business in the EU.