The Employers and Industrialists Federation (OEB) informs about the provisions of the Consumer Protection (Amendment) Law of 2026 (L.30(I)/2026).
The law aims to ensure the smooth functioning of the internal market for distance contracts, with a focus on financial services.
Key provisions include:
- Right of withdrawal in online contracts: Traders must provide an option for consumers to withdraw, such as “click here to withdraw” or equivalent wording.
- Distance financial services: Modernized rules are organized into five main sections:
- Pre-contractual information: Traders must provide clear and comprehensible information on a durable medium before contract conclusion.
- Right of withdrawal: Consumers can withdraw within 14 days without justification or penalties.
- Payment in case of withdrawal: Consumers only pay for services already provided, without penalties.
- Adequate explanations: Traders are obliged to provide sufficient explanations free of charge for consumers to assess the contract.
- Additional online protections: Practices that mislead or manipulate consumers are prohibited.
Definitions:
- Financial service: Banking, credit, insurance, investment, pensions, investments, or payment services.
- Distance contract: A contract concluded without physical presence, through an organized remote service system.
The law comes into force on June 19, 2026. For more information, see the official announcement by the Consumer Protection Service.
