In a recent conference of consumer protection ministers in Berlin, the attendees emphasized the need for greater transparency in the packaging of financial products and services, as well as the protection of tenants from utility disconnections.
The conference, initiated by the Saarland Ministry of Consumer Protection, highlighted the issue of misleading packaging, where products may claim to contain more or better ingredients than they actually do. The ministers called for stricter regulations to ensure that consumers can quickly identify whether online financial trading platforms are legitimate and for the review of promotional practices for high-risk financial products, particularly in social media, where unqualified individuals may mislead consumers and lead to financial losses.
The ministers also emphasized the need to better protect tenants from utility disconnections, which can occur when landlords fail to pass on additional costs to tenants. The conference proposed that tenants receive information about potential disconnections and be able to enter into supply contracts to offset the costs with their rent.
Furthermore, the ministers discussed ways to reduce energy prices and combat excessive consumer electricity prices. The revenue from carbon pricing is intended to benefit consumers, particularly those in lower and middle-income groups.