
USAID supported CNPF in initiating discussions on developing a mechanism between consumers and providers of financial services
According to USAID Moldova, in particular, this assistance was provided to the National Financial Market Commission (CNPF) under the Moldova Institutional and Structural Reforms Activity (MISRA) program. The discussions initiated by CNPF are aimed at exploring stakeholders' views on the creation of an out-of-court dispute resolution solution for customers of financial service providers that is efficient, transparent and useful for both customers and financial service providers. An alternative dispute resolution mechanism offers faster solutions, being a simpler and less costly procedure for the parties than legal action. Typically, in EU countries, the duration of dispute resolution through these alternative dispute resolution mechanisms is reduced to a period not exceeding 90 days, compared to the months or years required to obtain a final decision in the courts. // 01.11.2024 – InfoMarket