21 September 2016

Negotiators must make trade in services deal palatable for consumers

The e-commerce, financial services and telecoms texts of the Trade in Services Agreement (TiSA) have recently been leaked. The European Consumer Organisation (BEUC) concludes that these texts are unlikely to lead to a good deal for consumers.
14 September 2016
21 June 2016

European consumer groups meet Slovak EU Presidency

The European Consumer Organisation and its Slovak member ZSS met the Slovak First Secretary of State of the Ministry of the Economy, Mr Rastislav Chovanec, to present their expectations for the first ever Slovak EU Council Presidency.

Our work areas

Across the EU, consumers are left with serious concerns about the future of their personal deposits and savings, loans and pensions – a problem aggravated by the economic crisis. This same crisis has shown that financial supervision authorities were not capable of detecting the risks of evermore complex products accurately and adopting the necessary measures to avoid this crisis. Therefore, it is essential to restore consumer confidence, and protect all European consumers at national and cross-border level.

Another concern in this context is the availability and accessibility of financial services along with the need to tackle financial exclusion.

An Internal Market of financial services does not exist yet - it is still nearly impossible to open a current account or a simple savings account in another Member State if not resident there. Even if there are major differences in interest rates between Member States from which consumers could benefit, it is almost impossible to obtain credit in another Member State.

Finally, consumer choice in the area of financial services is impeded both by a clear lack of independent advice on financial services and complex and not comparable pre-contractual information.

Our objectives

  • Strengthen regulation and supervision for retail financial services
  • Decrease financial exclusion and guarantee the right of consumers to have access to basic banking services
  • Make essential payment services efficient, fair, affordable and secure
  • Ensure information on financial services is easy to understand and comparable – also across borders – and that advice on financial services is affordable and reliable
  • Advocate for financial services suitable for those who buy them

Publications

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The European Consumer Organisation
Europäischer Verbraucherverband
Bureau Européen des Unions de Consommateurs

Rue d'Arlon, 80 Bte 1 
B - 1040 Bruxelles

Tel: +32 2 789 24 01
E-mail: financialservices@beuc.eu

Special Advisor for financial servicespicture
Special Advisor for financial services
Anne Fily
Senior Financial Services Officerpicture
Senior Financial Services Officer
Farid Aliyev
Financial Services Officerpicture
Financial Services Officer
Greg Van Elsen
Communications Officerpicture
Communications Officer
Sébastien Pant
Secretarypicture
Secretary
Carmen Martin