BaFin supervises banks and financial services providers, private insurance undertakings and securities trading.
BaFin is also responsible for collective consumer protection in these areas. However, there are legal limitations to the extent to which BaFin is allowed to assist customers.
BaFin wants to provide adequate protection for consumers as a whole. It has therefore set up a department specifically to deal with the wide range of consumer protection issues within BaFin’s remit. The consumer protection department has eight divisions across both BaFin locations: Bonn and Frankfurt am Main.
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