Alternative Dispute Resolution through Mediation in Romanian Retail Banking

This article aims at exploring the stage of implementation of mediation as method for the alternative resolution of disputes among consumers and providers of banking services, in Romania. The importance of the topic stems from the increase in the number of customer complaints about banking services in Romania and from the current preoccupation at European level to identify extra-judicial methods for consumer disputes. The main objectives of the research consist in studying: the regulatory framework relative to mediation at the European Union level; the mediation schemes focused on banking services, in the Member States; the present regulatory framework relative to mediation in Romania; the existing mediation schemes and their development level on the Romanian banking service market. The research method applied has an exploratory character. The conclusions clarify the present state of mediation related to banking service disputes in Romania. Within this framework, the recommendations refer, among other aspects, to the organization of a further research phase that may contribute to the substantiation of future decisions aiming to enhance the protection of the rights and interests of consumers.