The experts of the USAID project “Transformation of the financial sector” has prepared a bill on the establishment of the financial Ombudsman. This writes FinClub.

According to the document, the financial Ombudsman will consider complaints from consumers of financial services on financial institutions. Disputes may relate to violations of the law in the provision of services, inadequate performance or illegal denial of services. Penambuco will deal with conflicts in the amount of up to one hundred times the minimum wage – now it is 320 thousand UAH.

The consumer can complain to the Ombudsman only if the financial institution refused the solution to the problem or does not respond within 30 days. The consumer is not in parallel will be able to sue the company, otherwise the Ombudsman will remove the complaint. This also applies to disputes has already been examined by the courts. If the Ombudsman will handle a complaint, we will take action on it for 90-120 days. The verdict will be final and cannot be challenged in court.

The financial Ombudsman will pay financial institutions – they will make regular contributions. The company, which often complain about, will pay more than others. After all, the losing party (company or consumer) will pay the Ombudsman fee for consideration of the dispute.

USAID has prepared a draft law on financial Ombudsman in Ukraine 14.09.2017

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