The proposals made by CSALB conciliators and accepted by both parties include various benefit mixes such as debt reductions, penalty waivers, refunds, and the closure of foreclosure or debt settlement cases. Banks remain open to resolving court cases, whether they involve CHF loans granted more than 15 years ago or lawsuits that have not yet reached their first hearing. Since the beginning of the year, consumers have submitted over 800 negotiation requests to banks, with 150 cases already concluded or currently under negotiation.

n 2024, banks agreed to enter into 1,077 negotiations with consumers following requests submitted to the Alternative Dispute Resolution Center for Banking (CSALB). Compared to the first year of negotiations between consumers and banks (2016), last year saw a 23-fold increase in banks’ willingness to find a solution together with CSALB conciliators to resolve financial service-related issues raised by consumers. Between 2016 and 2024, approximately 4,300 negotiations between consumers and banks concluded with a mutual agreement.

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Next year, we may witness tax increases and higher property taxes, warn the guests of the podcast hosted by the Alternative Banking Dispute Resolution Center (CSALB). These effects will lead to a decline in consumer spending, which could impact the entire economy. In such conditions, pressure on Romanian incomes will increase, and people need to secure their personal finances as best as possible. Experts recommend saving, maintaining a low level of debt, and keeping an ongoing dialogue with the bank to prevent difficult situations. In the 10th episode of #PodcasturileCSALB, guests include Ana Popescu, Retail Director at Unicredit, and Ionuț Ștefan, CSALB conciliator and tax consultant, in a discussion moderated by Adrian Asoltanie, trainer and financial education specialist. (more…)

In uncertain times, with a war at the border, inflation, and still relatively high interest rates, banks need to show simplicity in communication and empathy for consumers. On the other hand, consumers must adapt to digitalization and protect their accounts from bank fraud. In the near future, everything clients can manage by themselves with the bank will become digital. This independence in accessing financial products and services comes with the risk of bank fraud. In the 9th episode of #CSALBPodcasts, guests include Eleni Skoura, Vice President of ING Romania, and Mihai Tănăsescu, CSALB conciliator and lawyer, in a discussion moderated by Irina Chițu, manager of Finzoom.ro and financial analyst. (more…)

By the end of the third quarter of 2024, the number of negotiations between consumers and banks mediated by the Center for Alternative Dispute Resolution in the Banking Sector (CSALB) reached 815, the highest number in the Center’s nearly nine years of operation.

The number of requests consumers sent to CSALB is almost 30% higher than during the same period in 2023. This year, 2,050 requests have been addressed to banks, while 750 have focused on consumers’ relationships with non-banking financial institutions (NBFIs). The relationship between consumers and banks is also discussed in the 8th episode of #PodcasturileCSALB, with guests Doru Bulată and Vasile Nemeș, in a conversation moderated by Constantin Rudnițchi. (more…)

During the summer months, consumers sent 50% more requests to the Center for Alternative Dispute Resolution in Banking (CSALB) compared to the same period last year, and the number of negotiations between consumers and banks increased by 60% compared to June, July, and August 2023. Consumers have sent approximately 2,500 requests since the beginning of the year, and 720 negotiations have been conducted so far. In most cases, consumers requested the following from banks: Refunds of amounts previously charged as fees; Amicable resolution of disputes currently in court; Assistance from financial institutions in cases of fraud and scams where consumers were victims. (more…)

Since the start of the year, Romanians filed more than 2,100 applications for negotiation with their banks and NBFIs to the Alternative Banking Dispute Resolution Centre (ABDRC). This means 20% more than during the same period of 2023. The reason found in the majority of loan agreement renegotiation applications is the fact that ROBOR and IRCC rates remain high, and that these are used to calculate the floating interest on loans. Increases higher than for the number of applications were reported for the actual negotiations (25%) and reconciliations (31%). In the first half of this year, the benefits obtained by consumers from negotiations with banks are about EUR 1.5 million. (more…)