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How did the Financial Ombudsman help? (2016 – 2020)

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“The voice of European consumers should be heard better” – Prof. Mariusz Golecki at the 13th European Economic Congress

21 September 2021

Does EU law help protect consumers in international and domestic markets? Which consumer protection tools and models are most effective in each country? These questions were answered by guests of the Financial Ombudsman during a debate devoted to consumer protection in the European financial market. The interlocutors were unanimous – the appointment of a European financial ombudsman to represent consumers’ interests at European Union level should be considered.

Consumer protection in a global context, particularly in relation to consumer relations within the European Union, is extremely important, as every consumer, regardless of where they live, should have the same opportunities to assert their rights. A Financial Ombudsman Office at European Union level would increase customer safety,” said Financial Ombudsman, Prof. Mariusz Golecki, emphasising the need for discussions at the supranational level, involving international experts. Read more.

“We are all consumers in the financial market” – the Financial Ombudsman at the XXX Economic Forum in Karpacz

16 September 2021

All consumers in the European Union, regardless of where they live, should have the guarantee of the same level of their rights’ protection, unfortunately, practice shows huge inequalities in this area. Therefore, the Financial Ombudsman, a partner of the XXX Economic Forum in Karpacz, invited international experts to discuss customer protection on the European financial market.

The most important issues discussed included those related to loans in Swiss francs, unauthorized payment transactions and consumer interests in general. Read more.

“Freedom and innovation go hand in hand with consumer protection” – prof. Mariusz Golecki at the Forum in Karpacz

10 September 2021

“The European Union was created by prominent conservative politicians such as Robert Schuman, Alcide de Gasperi and Konrad Adenauer. It is worth reminding that it is the conservative values and ideas that constitute the foundation of the united Europe”, said prof. Mariusz Golecki during the Economic Forum in Krynica.

Prof. Mariusz Golecki, Financial Ombudsman, took part in the panel “Does liberal capitalism need conservative values?” which was held on the last day of the Forum. The discussion moderated by MP Paweł Poncyliusz, was also attended by Rev. prof. Stanisław Dziekoński, Bartłomiej Wróblewski and Władysław Kosiniak-Kamysz. Read more.

Debate: “Consumer protection in the financial market in the European perspective” – Financial Ombudsman at the 30th Economic Forum in Karpacz

8 September 2021

In the European Union, all consumers of financial services should be guaranteed the same level of protection of their rights. In the new EU Consumer Agenda, there is a need to consolidate the protection policy to address the contemporary problems posed by the increasing digitalisation of financial services. During the 30th Economic Forum in Karpacz, the Financial Ombudsman, Prof. Mariusz Golecki, talked about the necessity of international cooperation.

Dr Csaba Kandrács, Deputy Governor of the Central Bank of Hungary, Ger Deering, Financial Ombudsman of Ireland, Prof. Christophe Paulin of the University of Toulouse, Prof. Piotr Tereszkiewicz of the Jagiellonian University and Prof. Mariusz J. Golecki, Financial Ombudsman, discussed within the panel “Consumer protection in the financial market from the European perspective”; the discussion was moderated by Prof. Mariola Lemonnier.Read more.

Debate: “Unauthorised transactions as an example of contemporary threats to customer security in the financial market” – Financial Ombudsman at the 30th Economic Forum in Karpacz

8 September 2021

Due to the dynamic development of digital banking services, consumers of the financial market are increasingly becoming victims of so-called unauthorised financial transactions, a situation in which money disappears from the account without the consumer’s knowledge. The scale of the problem is still growing, therefore the Financial Ombudsman invited international guests to take a look at this issue as part of a panel during the 30th Economic Forum in Karpacz. Read more.

International Cooperation of Financial Ombudsmen

8 September 2021

Economic Forum in Karpacz: International cooperation is essential to protect financial market customers.

The Financial Ombudsmen for Ireland and Poland, Mr Ger Deering and prof. Mariusz Golecki declared their cooperation to strengthen consumer protection in the financial market.

– The specialised office of the Financial Ombudsman plays a significant role, which is to protect the legally weaker participants in the financial market. In Ireland as in Poland, and indeed across Europe, there are more and more pitfalls for customers of financial institutions. Insurance and credit agreements are complicated, with more and more provisions in the small print that can get customers into trouble for years to come – said Gerd Deering, Ireland’s Financial Ombudsman. – We have to solve many problems which have accumulated over the years – declares the guest of the 30th Economic Forum in Karpacz. Read more.

“Swiss franc loans today and tomorrow in the European context” debate – Financial Ombudsman at the XXX Economic Forum in Karpacz

07 September 2021

“Swiss franc loans today and tomorrow in the European context” debate is the first event organised by the Financial Ombudsman as part of the XXX Economic Forum in Karpacz. The discussion, with the participation of international guests, confirmed the different experiences of the European Union Member States in the area of consumer protection related to loans denominated or indexed to foreign currencies.

All consumers in the European Union, regardless of where they live, should have the guarantee of the same level of their rights’ protection. However, due to the regional optimisation of financial products, the scope of protection in the concluded transactions is different.  Considering it crucial to start an international discussion on the place of the consumer in the financial services market, the Financial Ombudsman, a partner of the XXX Economic Forum in Karpacz, invited international guests to a debate on consumer protection in the European financial market. The panel, in addition to the Financial Ombudsman Mariusz Golecki, PhD (post-doctoral degree), was attended by Professor Teresa Rodriguez de les Heras Ballell of Charles III University of Madrid who presented the situation of consumers in Spain, Professor Laszlo Kiss of the National University of Public Service, András Pomeisl, PhD, of the Pázmány Péter Catholic University, who focused on the Hungarian context, and Professor Jacek Jastrzębski, representing the Polish Financial Supervision Authority. The discussion was moderated by Professor of Legal Sciences Piotr Tereszkiewicz of the Jagiellonian University. Read more.

You lost money? The Financial Ombudsman will help to recover them

06 September 2021

A customer of a bank or other payment institution who suffers financial loss as a result of fraud has the right to claim reimbursement of the lost amount. in the event of refusal, he or she can use the help of the Financial Ombudsman. This was reminded by a representative of this office as part of a discussion at the Cybersec Forum 2021 conference.

According to prof. Jakub Szczerbowski, Director of the Banking and Capital Market Customer Unit at the Financial Ombudsman’s Office, the Payment Services Act clearly defines these issues. Any customer may demand that banks or other payment institutions return funds that have been stolen from their accounts. Read more.

Source: PAP MediaRoom

The Financial Ombudsman presented the Supreme Court with his position on the Swiss franc loans in case no. III CZP 11/21

24 June 2021

In response to the First President of the Supreme Court’s inquiry, the Financial Ombudsman presented his position concerning the directions of resolving legal issues presented by the Civil Chamber of the Supreme Court in cases related to loans indexed and denominated to foreign currency.

“Our position is congruent with the Financial Ombudsman’s views presented hitherto and adds further arguments arising from the latest case-law and legal scholarship,” explains dr hab. Mariusz Golecki, university professor and the Financial Ombudsman. “We consulted with a range of civil and consumer law communities and specialists in preparing our response for the Supreme Court. I would like to assure you that my office will continue to support consumers unreservedly, using all legally available instruments in all types of cases.” Read more.

The Financial Ombudsman is preparing his position for the Supreme Court.

24 May 2021

The Financial Ombudsman started work on his position on the legal issues covered by the motion of the First President of the Supreme Court in case III CZP 11/21.

The press spokesperson of the Supreme Court informed that on May 11, 2021, the composition of the entire Civil Chamber of the Supreme Court considering at a closed session the request of the First President of the Supreme Court of January 29, 2021, to resolve discrepancies in the interpretation of legal provisions in the case law of common courts and the Supreme Court concerning loans indexed and denominated in foreign currencies, decided to inform the Financial Ombudsman about the ongoing proceedings and asked for his position on the legal issues covered by the request of the First President of the Supreme Court…Read more.

The Supreme Court confirms the position of the Financial Ombudsman.

7 May 2021

The Supreme Court, at a session of the Civil Chamber composed of 7 members, ruled that in the event of the invalidity of a foreign currency loan agreement, the parties to the dispute should settle accounts according to the theory of two claims [Polish: “teoria dwóch kondykcji”]. The resolution adopted today by the Supreme Court has the force of a legal principle and ensures greater predictability of case law in the so-called Swiss franc matters. The ruling of the Supreme Court is consistent with the position of the Financial Ombudsman, who also applied for the unification of judicial decisions.

– The adopted resolution confirms the trend in jurisprudence that is beneficial for consumers – says dr. hab. Mariusz Jerzy Golecki, professor at the University of Łódź, the Financial Ombudsman. – First, it ensures the predictability of the jurisprudence, and only in such conditions are customers able to estimate the possible financial consequences of specific actions. Therefore, the resolution is important both for those who wish to pursue their rights in court and for those considering the possibility of an amicable settlement of the dispute. Secondly, and equally important, the application of the theory of two claims is more beneficial for consumers, who are the weaker party in disputes with financial institutions and they bear the consequences of illegal provisions applied by banks in their loan agreements…Read more.