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Ministry, GVH, NBH Renew Consumer Protection Cooperation

MTI-Hungary Today 2021.01.21.

Hungary’s competition authority GVH, the Innovation and Technology Ministry and the National Bank of Hungary have renewed their cooperation agreement to protect consumers from unfair business practices, the NBH and GVH said on Thursday.

The three institutions will hold regular consultations on the uniform application of the law, also presenting the most important issues related to the topic.

The NBH and GVH also expanded their bilateral cooperation agreement, under which the parties agreed to hold annual consultations to present their data backup, data mining and digitisation activities in order to share knowledge. The MNB will coordinate its position on financial markets with the European Supervisory Authorities with GVH.

Featured photo by Zoltán Balogh/MTI. In the photo: László Palkovics, Minister of Ministry for Innovation and Technology