Alternative Dispute Resolution for Consumers in the Financial Services Sector: A Comparative Perspective

Abstract:

Facilitated access to justice constitutes one of the crucial elements of empowering consumers in the integrated European market. Out-of-court dispute resolution (mediation, arbitration, etc.) as well as online dispute resolution schemes, constitute an attractive alternative to conventional redress mechanisms, and gain ever more attention in the EU.

In this European Policy Analysis, Iris Benöhr provides a comparative overview of national systems of alternative dispute resolution in financial services sector in a number of EU member states, and examines new developments at the EU level. Iris Benöhr’s contribution is part of a larger initiative analyzing current developments in the EU consumer policy, which has been undertaken under the SIEPS project on Social Europe. An earlier version of this analysis was presented at the seminar Consumer Empowerment in the EU, on 26 October 2012.