somewhat, but the question is to broad

it differs by country (EU gives countries some similar overlapping laws, but they still are distinct countries with a lot of different practices and different laws in many many ways.)

and it differs by severity

E.g. deutsche bank has become notorious to appear in most large scale bank scandals _in the US_ as a "German Representative". They also repeatedly get into trouble for relations to money laundering operations and other issues. At the same time they are the Bank which has to give you a (expensive but not completely absurd priced) bank account no matter your credit score, criminal history etc. and is the bank you mostly likely have a escrow account parking money if the person who gets it "if you mess up" is the state/local government (like e.g. in some long term visa context).

In general banks move very slow, including with software protocol updates/changes. And that isn't just the case in the EU AFIK. Actually some of the most crazy cases of "old software" I have seen in "the west" where as far as I remember in the UK and the issue was that it was deeply fundamentally impossible for them handle a lot of non English names correctly, like in 2017~2020 or so. Through at least they still could use the bank, just with a crippled/en-ified name. Funnily the same but worse (as in not working at all) I have heard about Japan banks, where they had(have?) really big issues if you have a middle name.).