Consumer Protection of Financial Services in the European Union

Sa？etak The global financial crisis of 2008 has caused tectonic shifts in the regulatory philosophy in the field of financial services. The EU has reacted by enacting a series of new rules and amendments to existing ones with the purpose of strengthening consumer protection. This paper analyses the theoretical and regulatory framework of consumer protection in the field of financial services, taking into account the stated official goal of building the internal market and the need to adjust for technological advances. It brings a critical overview of the legislation by placing it in a theoretical framework and assessing it as a body in evolution