ZAŠTITA KORISNIKA FINANSIJSKIH USLUGA U EVROPSKOJ UNIJI I SRBIJI
PROTECTION OF USERS OF FINANCIAL SERVICES IN THE EUROPIAN UNION

Summary/Abstract: The primary goal of this paper is to indicate the necessity of protecting users of financial services. It is worth noting that according to most countries’ statistics, private consumers spend about 70% of the country’s GDP by purchasing goods and using various services, including financial services. Serbia is a signatory to the Stabilization and Association Agreement with the EU, whereby Article 78 requires harmonization of consumer protection norms with the EU’s regulatory framework. Non-compliance with EU Directive 93/13 on unfair terms in contracts, as we know, led to severe damage to users of housing loans in Serbia indexed in Swiss francs, which cost the Serbian budget over 100 million euros. Adequate protection of users of financial services is achieved by norms and institutions established by domestic legislation harmonized with the acquis of the EU. That will increase economic efficiency and every kind of safety of citizens when buying goods and using financial services that will improve their prosperity and quality of life.

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