The European Commission and Financial Capability: Simplifying Financial Services

The European Commission has recently taken several initiatives to increase the financial capability of EU consumers. These have been aimed at ensuring that consumers understand the financial products available in the market, are able to manage their personal finances efficiently, and can make informed choices between different bank accounts, insurance policies or credit agreements.

This ECRI Policy Brief examines why these policies are needed, analyses the EU action in this area and assesses the likely future developments.