CONSUMER PROTECTION IN FINANCIAL SERVICES. PRICES AREA

Abstract

The important area of customers’ protection it is decided of prices. Law strict injunctions of application of some specific types of prices existence in all development countries. Bans on certain categories of prices are present in legal systems of all developed countries; UE directives and OECD guidelines contain bans on price discrimination through dumping, price fixing cartels or transfer price fixing. In this paper are showed the institutional models of customer’s protection in area of prices in credit institutions (f.e. interest rate). In the area of financial services the prices have specific character, f.e. reference prices, preferential prices, compound prices, risk of a price change, different prices for the same product, payment by instalments. Contrary to the rules are showed in case study of banking market in Poland. Law regulations of interest rate are much wider applied than prices regulations on the other markets.
The development of protection institutions of customers in the banking market influenced more compliance law and ethical rules in price proceeding. Bad more education of customers it’s necessary. One of the misgivings signaled by banks is growing restrictiveness of regulations on consumer protection, which should become a subject of in-depth research.