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13.04.2017 13:32 Age: 162 days
Category: Press Releases

THE EC’S CONSUMER FINANCIAL SERVICES ACTION PLAN: A GOOD START BUT MANY HURDLES REMAIN


As part of its commitment to developing a deeper and fairer Single Market, the European Commission (EC) published an action plan setting out a strategy to strengthen the EU single market for retail financial services. Better Finance welcomes this initiative and insists that an effective rollout of the EC’s Consumer Financial Services Action Plan is critical for financial services users across the EU. 

This Action Plan includes several important steps in the right direction such as: 

- the proposal by the EC for an amendment to the Regulation on Cross-Border Payments,

- actions by the EC to tackle the high and hidden costs consumers have to deal with abroad when faced with a payment system known as "Dynamic Currency Conversion" (DCC) 

- an initiative put forth by the EC which aims at addressing the lack of objective and credible information about financial products available to consumers. 

Read the full Press release here 


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