ABBL

Who should be contacted if a dispute arises between a bank and a customer?

First of all, an attempt must be made to solve the problem by discussion with the institution concerned.

If agreement cannot be reached directly between the parties, Article 58 of the law of 5 April 1993 on the financial sector empowers the Financial Sector Supervisory Commission (CSSF) “to receive complaints from customers of undertakings which are subject to its supervision and to make representations to such persons with a view to arriving at an amicable settlement.”

The CSSF can be reached at the following address:

Commission de Surveillance du Secteur Financier
Secrétariat Général
110, route d’Arlon
L-1150 Luxembourg
Tel. (352) 26 251 1
Fax (352) 26 251 60
E-mail : direction [at] cssf [dot] lu
Internet : www.cssf.lu

Details of the conduct of the procedure are set out by the CSSF in its circular 95/118 on the treatment of complaints by customers of credit institutions and other financial sector professionals which are subject to supervision by the CSSF.

The ABBL has no authority to intervene in disputes between the banks and their customers.