The government adopts an emergency ordinance for the protection of consumers in financial services: mandatory transparency regarding personalized prices, automated decisions, and the right to withdraw without penalties, in line with EU directives.

In today's meeting, March 19, the Government adopted an emergency ordinance that updates the consumer protection rules in the field of financial services, taking into account digitalization and online commerce. The aim is to align Romanian legislation with European Union standards and ensure protection for all consumers, including small businesses. Among the main provisions are the provision of clear information about financial services, the obligation of traders to inform consumers about the automated decision-making process and the personalization of prices, as well as respecting the right of withdrawal without penalties.

The ordinance aims to harmonize legislation to guarantee a high level of protection for consumer interests and to create an efficient internal market. The amendments align with recent European directives and aim to combat unfair trading practices, ensuring transparency and legal security in commercial relationships. Specific rules for consumer protection in the context of digitalization are also introduced, including obligations to inform about sustainability and the possibility of repairing products.