Italian lenders have pushed back hard against Prime Minister Giorgia Meloni's latest move on their sector: a plan to extract €7bn in additional taxes from financial institutions over the next three years, according to the Financial Times. The banks' reaction was blunt, with lenders publicly criticising the levy, the FT reported. The measure targets the country's banking sector as Rome looks to raise revenue from financial institutions. 【Why a bank levy lands on lenders】 A tax on banks works differently from a levy on households or non-financial firms. Lenders hold capital against the risk on their balance sheets, and a charge on profits or balance-sheet size comes straight out of the capital they can retain or return to shareholders. That is why bank taxes tend to draw immediate objections from the sector: the cost is absorbed either by lower profitability, reduced lending capacity or a smaller buffer against losses. For retail customers, the transmission is indirect but real. Banks facing a higher tax bill can adjust pricing on loans and deposits, tighten credit conditions or cut costs. None of that is automatic, and the final shape depends on how the measure is designed and how long it stays in force. 【Who is exposed】 The plan concerns Italian financial institutions and, by extension, anyone holding Italian bank shares, funds with Italian bank exposure or accounts with lenders operating in the country. The €7bn figure is the amount Rome intends to raise over three years, per the FT. Investors across Europe have watched Italy's repeated attempts to tax bank profits closely, since similar measures elsewhere in the EU have shown how quickly a levy can move share prices and lending behaviour. 【What to watch】 Details of how the levy will be applied, and how banks respond, will shape the practical impact. For customers, the basic safeguards stay the same: check that any institution you deal with is authorised and supervised, use official channels for account information, and be wary of messages claiming to come from a bank or tax authority asking for transfers or credentials.