Navigation path

Login   |   Register
 

Advanced search Search in:    Audio    Photo    Video    Shotlist


OR









Extracts from the keynote address by Meglena Kuneva during the European Savings Bank Group (ESBG) Conference "Retail Banking in Europe - The Way Forward"

29 views

There are widespread problems with the way banks inform and advise their customers according to a European Commission report on retail financial service. Specific problems include information which in many cases is difficult to understand, opaque bank fees, problems with advice and low levels of switching. The report describes the price structures of current accounts as "very opaque making it almost impossible for consumers to know how much they are paying and to compare different offers." For 66% of banks surveyed, bank fees were so unclear that experts compiling the report needed additional explanatory contacts with the bank to find the real costs of an account. Austria, France, Italy and Spain score poorly on transparency and are among the most expensive countries for banking accounts. The EU market is fragmented depriving consumers of the advantage of an EU Internal Market. Only 9% of EU consumers switched current accounts for the two years 2007-2008. On 22 September 2009, Meglena Kuneva, Member of the EC in charge of Consumer Protection, took part at the European Savings Bank Group (ESBG) Conference "Retail Banking in Europe - The Way Forward", and talked about the EC report on retail financial service.
SHOTLIST

Type: EbS   Reference: 65613   Date: 22/09/2009   Duration: 00:03:56
To download, please log in



Related media

Employment, Social Policy, Health and Consumer Affairs Council, 2980th meeting: ...
Ref: 67016
Date: 01/12/2009
Justice and Home Affairs Council, 2979th meeting: arrivals
Ref: 67011
Date: 01/12/2009
Employment, Social Policy, Health and Consumer Affairs Council, 2980th meeting: ...
Ref: 67015
Date: 01/12/2009
Justice and Home Affairs Council, 2979th meeting: round table
Ref: 67012
Date: 01/12/2009
Eurogroup Meeting: round table
Ref: 67024
Date: 01/12/2009
Visit of Herman Van Rompuy, Belgian Prime Minister and President designate of ...
Ref: 67113
Date: 01/12/2009
Visit of José Manuel Barroso and Fredrik Reinfeldt, Swedish Prime Minister and ...
Ref: 67070
Date: 01/12/2009
Eurogroup Meeting: arrivals
Ref: 67023
Date: 01/12/2009

New Video Player (Version 1)
More info

Press packs


Go to useful links page Useful links

Go to rss page Go to EU Tube page Go to twitter page Go to facebook page Go to contact page


Credit © European Union, 2014