Information on the Ombudsman

The Association of Commercial Banks of Latvia Ombudsman Institution commenced activity on 2 January, 2003, pursuant to the decision of the Association of Commercial Banks of Latvia and in accordance with the respective ES recommendations, the Credit Institution Law and recommendations by the Financial and Capital Market Commission. The Ombudsman Institution reviews credit institution client claims that correspond to the following indicators:

1.     the claim was submitted by a client that is not a credit or financial institution;

2.     the claim is regarding a non-cash credit transfer or transaction via an electronic payment system;

3.     the claim is regarding an action committed by a credit institution registered in Latvia;

4.     the transaction amount of the claim does not exceed EUR 50 000;

5.     the claim does not concern issues related to document forgery;

6.     the claim does not concern issues related to the validity of a credit institution's price list, the act of granting, repealing or amending a credit limit or credit limit regulations and other similar issues;

7.     the client has previously approached a credit institution with a similar claim, but has not received a satisfactory reply from the respective credit institution within a month's time after having submitted said claim;

8.     the court or court of arbitration has not brought action against the subject of the claim;

9.     the client has not approached the Consumer Rights Protection Centre with the same claim;

10.  the ombudsman has not previously received a claim from the same client regarding the subject of the claim.

Claims must be completed in written form. They must be addressed and submitted to the ombudsman of the Association of Commercial Banks of Latvia at Pērses iela 9/11, Riga LV - 1011.

For more information, please visit the Association of Commercial Banks of Latvia home page: www.bankasoc.lv