The EBA and its Consumer Protection Objective – The First 10 Years

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The EBA was created 10 years ago, inter alia with the mandate to protect consumers in the EU. This article explains the scope of this mandate, summarises the legal instruments the EBA has issued so far to fulfil it, explains the challenges it has faced, and provides an outlook of what lies ahead in 2023.

The European Banking Authority (EBA) was established in the wake of the Financial Crisis of 2008/2009 and came into being on 1st January 2011.1 At the time, the authority took over the tasks and responsibilities from the previous Committee of European Banking Supervisors (CEBS) but also received additional objectives and tasks, including to contribute to the protection of consumers of financial services in the EU. The EBA started to fulfil these objectives from 2012 onwards, so the year 2022/23 is an opportune point in time to take stock of what the EBA has achieved in the first 10 years and identify ...

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Banque et Droit NºHS-2023-1
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