6 December 2005
The European Commission (EC) should do more to give consumers a voice in financial services, consumer groups have said.
A resolution from the consumer bodies across Europe called on the EC to take measures to ensure that they are given an increased role in setting policy for financial services companies.
Measures suggested include encouraging member states to support financial service consumer groups, to publicise the activities of the commission's "work plan and road maps" to representative bodies and encourage other European agencies such as the Lamfalussy Committees to be more responsive to consumer opinion.
"The European Commission has complained about what it describes as 'the appalling lack of interest shown by consumer organisations'," said John Howard, chairman of the British Consumer Panel.
"But consumer organisations need more assistance from the commission if they are going to have the resources to respond. The resolution from this conference sets out an action plan for the commission to take forward."
The resolution was the product of a summit, held during November, which brought together consumer groups from across the EU to discuss financial services reform.
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