The EU is a scam.

You mean, even more than US lawmakers? Not possible 🤣

> But social media companies will have to compensate banks if it’s clear that they failed to remove an online scam that had been reported.

I think that's no different than the US; social media companies aren't liable for what's their users do if they moderate in good faith. But if something is reported and then if they fail to remove it, or they otherwise know about problematic content and don't remove it, they become liable.