{"id":12769,"date":"2021-09-16T14:35:00","date_gmt":"2021-09-16T14:35:00","guid":{"rendered":"https:\/\/rf.gov.pl\/?p=12769"},"modified":"2024-06-13T10:55:18","modified_gmt":"2024-06-13T10:55:18","slug":"we-are-all-consumers-in-the-financial-market-the-financial-ombudsman-at-the-xxx-economic-forum-in-karpacz","status":"publish","type":"post","link":"https:\/\/rf.gov.pl\/en\/we-are-all-consumers-in-the-financial-market-the-financial-ombudsman-at-the-xxx-economic-forum-in-karpacz\/","title":{"rendered":"\u201cWe are all consumers in the financial market\u201d \u2013 the Financial Ombudsman at the XXX Economic Forum in Karpacz"},"content":{"rendered":"\n

All consumers in the European Union, regardless of where they live, should have the guarantee of the same level of their rights\u2019 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.<\/strong><\/p>\n\n\n\n

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The most important issues discussed included those related to loans in Swiss francs, unauthorized payment transactions and consumer interests in general.<\/p>\n\n\n\n

\u201cWe are dealing with the cross-border nature of consumer protection issues on the financial market in relation to both banking services, the capital and insurance markets and technology. The development of technology forces cooperation between entities in different countries, not only in the European Union, but also more broadly at the international level\u201d<\/em>, noted prof. Mariusz J. Golecki, Financial Ombudsman, explaining the need for extensive dialogue with experts from various countries.<\/p>\n\n\n\n

The debates organized by the Financial Ombudsman were attended by, among others: Ger Deering, Financial Ombudsman of Ireland, prof. Teresa Rodriguez de les Heras Ballell of Charles III University of Madrid, Csaba Kandr\u00e1cs, Ph.D., Vice-President of the Central Bank of Hungary, prof.  Laszlo Kiss of the National University of Public Service, Andr\u00e1s Pomeisl, Ph.D., of the P\u00e1zm\u00e1ny P\u00e9ter Catholic University, prof. Christophe Paulin of the University of Toulouse, prof. Jacek Jastrz\u0119bski, Chairperson the Polish Financial Supervision Authority, prof. Piotr Tereszkiewicz of the Jagiellonian University, prof. Mariola Lemonnier, prof. Jakub Szczerbowski, Director of the Banking and Capital Market Client Department of the Financial Ombudsman and Financial Ombudsman, prof. Mariusz J. Golecki.<\/p>\n\n\n\n

In defence of the financial market consumer<\/strong><\/p>\n\n\n\n

The debate focused on consumer protection issues in the context of financial products and services. Considerable attention was paid to the contemporary challenges of EU consumer law in the light of the European Parliament and Council (EU) Regulation.<\/p>\n\n\n\n

The subject of loans denominated and indexed to foreign currencies was also discussed. Mariusz Golecki, Financial Ombudsman, pointed out that the biggest problems with Swiss franc loans occurred in Central Europe, but as the example of Spain shows, consumers in the so-called old EU countries also face problems with denominated loans.<\/p>\n\n\n\n

\u2013 The same financial products have different numbers of abusive clauses in different countries. \u201cThe World Bank indicated that the same product from the same bank was much more toxic in Hungary than in Austria. There are also different attempts to solve this problem<\/em> \u2013 in Hungary there were attempts at a statutory solution and conversion. We skipped this stage in Poland.\u201d<\/em> \u2013 says the Financial Ombudsman.<\/p>\n\n\n\n

The discussion on unauthorized transactions aroused a lot of emotion, especially since anyone can become a victim of cybercriminals, regardless of geographical latitude. \u2013 Unauthorized transactions are currently one of the biggest risks associated with the so-called electronic banking. The development and availability of technology, and more recently the COVID-19 outbreak, have compounded the increase in criminal activity resulting in the theft of funds from bank accounts. We are approached by victims who in this way have sometimes lost their entire life savings<\/em> \u2013 emphasized Mariusz Golecki during the debate.<\/p>\n\n\n\n

Opportunities for transnational partnerships<\/strong><\/p>\n\n\n\n

XXX Economic Forum was also an excellent opportunity to strengthen cooperation between the Polish Financial Ombudsmen <\/em>\u2013 prof. Mr Mariusz Golecki and Mr Ger Deering of Ireland pledged joint action to strengthen consumer protection on financial markets in both countries.<\/p>\n\n\n\n

\u2013 It is important for us that both Poles and Irish people can move freely between countries. In Ireland as in Poland, and indeed across Europe, there are more and more pitfalls for customers of financial institutions. Insurance and loan agreements are complicated, with more and more provisions in the small print that can get customers into trouble for years to come<\/em> \u2013 said Ger Deering. The Financial Ombudsman of Ireland also drew attention to the need to enforce the right to an Irish pension for Poles returning to their homeland after several years of work in Ireland.<\/p>\n\n\n\n

As Mariusz J. Golecki pointed out, cooperation with the Irish Ombudsman is particularly important for Poland. Ger Deering is the Chairman of the INFO Network, a network of entities and organizations dedicated to resolving disputes between consumers and financial institutions in many global markets.<\/p>\n\n\n\n

The Polish Ombudsman has announced that he intends to actively engage in European activities on the FIN-NET forum, in the work of which the Financial Ombudsman of Ireland is also involved<\/p>\n\n\n\n

Discussion panels organized by the Financial Ombudsman as part of the XXX Economic Forum in Karpacz:<\/p>\n\n\n\n