Report
Finance Watch has responded to the European Commission’s call for evidence and public consultation on the Consumer Agenda 2025-2030. While the Agenda identifies areas to shape a fair, innovative and sustainable marketplace for European consumers, it must also address barriers to accessing essential financial services.
What is the Consumer Agenda 2025-2030?
The European Commission’s Consumer Agenda 2025-2030 aims to:
- ensure that consumers can fully benefit from the Single Market;
- strengthen the enforcement of consumer protection legislation;
- protect vulnerable consumers;
- promote a fair, green and digital economy.
The strategy contains a list of measures to be taken from 2025-2030, covering digital fairness, consumer law enforcement and an action plan on consumers in the Single Market.
The Agenda must improve access to essential financial services
Finance Watch broadly supports the areas the Commission has identified as priorities in its public consultation. However, for consumers to fully benefit from the Consumer Agenda 2025-2030, the Commission must do more to tackle the ongoing challenges that limit access to essential financial services.
- Vulnerable consumers continue to face significant obstacles in accessing basic payment accounts. Consequently, the Commission should prioritise the revision of the Payment Accounts Directive, whose review is long overdue.
- Gaps in the regulatory framework for AI systems used in the provision of retail financial services may hinder or, in some cases, prevent consumers’ from accessing certain financial services and products, and from seeking redress when AI systems’ outputs cause harm. Finance Watch calls on the Commission to extend the scope of high-risk AI systems in the EU AI Act, as well as introduce a legal rulebook similar to the AI Liability Directive, which was regrettably withdrawn in 2025.
- In light of the cost-of-living crisis and rising over-indebtedness, Finance Watch urges a revision of the Mortgage Credit Directive to address excessive mortgage costs, prevent mis-selling, and strengthen the rules on debt relief for existing borrowers.
For more on Finance Watch’s feedback on the Consumer Agenda 2025-2030, see the full submission below.
Read the full response
