Financial Institutions and Services

A new player in the field of financial affairs: the financial consumer

As a member of the EU, Hungary has to implement community norms into its legal order. The EU regulations have reached some basic institutions of the private and the business laws of the member states. The rules of consumer protection constitute the most important driving force behind the development. The current definition of the consumer intends to emphasize its weaker position in a contractual relationship. This definition seems to be in need of further specification in particular domains of transaction such as financial affairs.