Calviño confirms the creation of the Financial Customer Ombudsman


The Minister council plans to approve this Tuesday the draft law of creation of the Independent Administrative Authority for the Defense of Financial Clientsafter receiving the favorable opinion from the Council of State last week, as confirmed on Tuesday by the First Vice President of the Government, Nadia Calvino.

The Minister of Economic Affairs and Digital Transformation has also explained, in statements to RNE, that this figure will have the power to impose sanctionsfor example, due to non-compliance with aid measures for mortgaged families if financial institutions decide to join them.

These measures for affected families due to the rapid rise in interest rates will also be approved this Tuesday in the Council of Ministers, as explained by the vice-president. The Financial Client Defense Authority will involve the implementation of a mechanism that will unify the claims services of the Bank of Spain, the National Securities Market Commission (CNMV) and the General Directorate of Insurance and Pension Funds (DGSFP).

The resolutions of the Defense Authority will be binding

The future figure will be endowed with autonomy and independence and it will resolve the claims of customers who have not been satisfied with the response given by the customer service of their financial institutions.

The text that will be submitted for approval by the Council of Ministers in the second round maintains that the resolutions of the Defense Authority will be binding on financial entities When the amounts claimed are less than €20,000. This mechanism will also be free for customers and will be financed with a fee of 250 euros that entities will have to pay for each admitted claim.

Calviño has indicated that he hopes that this new figure will come into operation next year and has explained that it is an additional protection measure for clients of financial institutions, which will prevent them from having to appeal to the courts.


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