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Protection of Banking Clients in Roman law

Publication at Faculty of Law |
2020

Abstract

Due to its systemic importance, banking industry is subject to some special regulations which do not address other parts of the economy. This was also the case of the Roman law which contained rules beneficial to banking clients.

Roman bankers were forced to disclose their accounts to their clients and the courts when asked to do so. This obligation would bound not only bankers themselves, but also their masters or paterfamilias.

Furthermore, depositors which did not receive any interest had a priority over those who did so in insolvency proceeding of a banker. Finally, Roman public authority set some limits as to who might operate a banking business.