A bill currently under debate in the Romanian parliament aims to change the legal framework of consumer protection by reallocating several powers from the National Authority for Consumer Protection to the National Bank of Romania (NBR). The purpose of the bill is to increase the financial inclusion of vulnerable consumers and the transparency on the financial market. If adopted, the new legislation will assign to the NBR the duty of making available to consumers a website where they can compare the fees charged by payment services providers. Moreover, payment services providers will be obliged to report to the NBR any changes they intend to make to their fee structure for payment services. The bill was criticised by the NBR, which expressed its opposition to the envisaged changes.
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