Consumer Protection in the Banking Sector

Javier Rodríguez Pellitero reviewed the recent updates to the Spanish mortgage system from the perspective of consumer protection in the banking sector. He began by differentiating between the structural nature of mortgage regulations and the circumstantial set of regulations that have developed as a result of the economic crisis in Spain. Next, he highlighted that Spanish mortgage regulations have allowed families access to homes due to affordable financing, and that, from both this perspective and a procedural perspective, these regulations have been effective. In terms of the circumstantial regulations gradually adopted, Javier Rodríguez Pellitero explained that the reasons for their development have not only been legislative, but also due to political, social and economic circumstances. In addition, he also outlined the future outlook for mortgage regulations.

Juan Manuel Rodríguez Cárcamo focused his speech on the main issues considered by the Court of Justice of the European Union (CJEU) related to banking consumer protection. Since the delivery of the judgment on the Aziz case in 2013, the number of pre-trial questions asked regarding the compatibility between Spanish law and EU law by Spanish judges before the CJEU have multiplied; this has given way to a number of hugely important judgments, not only for consumers but also for credit entities. In this way, Juan Manuel Rodríguez Cárcamo reminded us of the importance of knowing CJEU procedure in detail, in addition to outlining the main CJEU judgments that have been most significant in Spain, a few of which have required changes to Spanish law. Finally, Juan Manuel Rodríguez Cárcamo mentioned the matters pending before the CJEU, evaluating their status and any upcoming matters, as well as focusing on the consequences for banking entities.

Following the speeches, Ana Ribó López moderated an animated debate between the speakers and the participants at the session, which was attended by a number of representatives from the Spanish banking sector.