Collective redress
EC green paper (27 November 2008)
The European Commission has published a Green Paper on Consumer Collective Redress on how to facilitate redress in situations where large numbers of consumers have been harmed by a single trader's practice which is in breach of consumer law.
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Retail credit
The Retail Credit Department of ABI handles the financing that the banking sector disburses to retail customers, in all its technical forms (mortgages, consumer credit, micro credit etc.).
The sector promotes business development and, after having examined the impact of applicable laws on the market and the banks’ organization, proposes optimization of the rules, with reference to the European financial market, through:
• analyzing operational problems encountered by members, providing advice and searching for solutions;
• consulting with various stakeholders (consumer associations, small enterprises’ associations and non-profit associations);
• relations with regulatory authorities and with the bodies that operate in the relevant areas of action;
• collecting information on the operational approaches and modalities as well as examining in-depth regulatory matters;
• launching projects and trials aimed at increasing efficiency and profitability.
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Retail finance
The Retail Finance Department develops its activities with the banks’ retail customer in mind, handling, specifically, the terms and conditions associated with placing financial products and instruments vis-a-vis retail customers, investment services envisaged for retail customers, asset management products, also related to social security purposes, which are addressed to retail customers. The sector examines the financial framework by analyzing its impact on the market and banks’ organization. To that end, it proposes optimization of the rules even with reference to the European financial market through analyzing operational problems encountered by members; relations with regulatory Authorities and with the bodies that operate in the relevant areas of action; self-regulation; education; and launching of projects and trials aimed at increasing efficiency and profitability.
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Contract rights directive
EU Commission's proposal on the revision of four directives (8 October 2008)
The Commission has adopted proposals for a single set of core EU wide consumer rights. The new rules will significantly strengthen consumer protection across the EU and guarantee equal protection for consumers wherever and however they shop - online or in the high street.
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Consumer relations
The Consumer Associations Relations Department, in collaboration with other ABI departments, pursues the objective of maintaining relations with Consumer Associations, by planning specific projects and initiatives regarding customer relations. It also aims at informing and educating citizens on financial matters, by organizing training seminars and conferences on specific themes as well as by preparing educational materials to inform consumers.
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Marketing and customer satisfaction
ABI has always been aware of issues pertaining to customer relationship management and to customer satisfaction level. With respect to the foregoing, ABI aims at supporting a process that sees banks moving closer to the market, in accordance with the principles of transparency and fair competition among players. Within this context, ABI’s Retail Business Area was established and the Marketing and Customer Satisfaction Department (MCS Department) was created. MCS Department provides banks with analytical and operational tools to support all their activities aimed at improving their relationships with customers.
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PattiChiari consortium
The PattiChiari Consortium was created in 2003, at the request of the Italian banking industry. It is the "vehicle" of the Italian Banking Association set up to provide customers with simple comparison tools and financial education programmes. The Consortium provides for:
• the management of the “PattiChiari” Brand, that marks the adhesion of the bank to the “Commitments for Quality”;
• the management of the “The Commitments for Quality”, a list of rules defining customers tools for clarity, simplicity, comparability and customer mobility. The commitments aim to promote a fully effective, transparent and competitive retail market;
• the design, management and control of information and web comparison engines, aiming to improve the customers comprehension and comparability of the “value for money” of the services offered;
• the design, management and control over projects of financial education that the banking industry propose to the community (see financial education section).
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Financial education
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