Finance Ministry: Strengthening the Financial Ombudsman

The Minister of Finance, Makis Keraunos, announced the submission of two bills to strengthen the institution of the Financial Ombudsman and protect primary residences.

The bills, to be submitted to the Legal Service, aim to upgrade the debt verification mechanism, with the possibility of restructuring and early recourse to the Ombudsman.

In case of disagreement, recourse to an Insolvency Advisor for a personal repayment plan is foreseen.

The decisions of the Financial Ombudsman will be binding up to 20 thousand euros in complaints against financial companies, covering approximately 75% of problematic cases.