Report on the activities of the Hungarian Financial Arbitration Board
PrintThe Hungarian Financial Arbitration Board, which is operating within the Central Bank of Hungary (Magyar Nemzeti Bank), publishes a report about its operation and activities online, and in a written format annually, which is titled „Report on the Activities of the Hungarian Financial Arbitration Board”.
The annual report, that is prepared according to the criteria laid down in Section 130 (1) of the MNB Act – among others - provides information about the analysis of the received and settled complaints, and the most regularly occuring, relevant problems that are causing disputes between consumers and financial service providers. It contains recommendations about how to avoid or solve such problems in the future. The report presents the average timeframe within which the dipsutes can be solved, and the data regarding the compliance of the service providers with the recommendations, binding resolutions and the resolutions that approve the settlement agreements of the parties.