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PSzÁF launches review of customer complaint handling

Hungarian financial market regulator PSzÁF on Wednesday started a review of consumer protection practices at 150 lending cooperatives and financial companies, PSzÁF said on its home page.

PSzÁF will review whether the financial institutions have informed their clients on their web pages or elsewhere of policies for handling complaints, as required by legislation in force since January.

In a recent spot check, PSzÁF found that almost all banks had met the requirements outlined in the legislation while lending cooperatives and financial companies had not. (MTI-Econews)