The economic and social consequences of the global financial crisis – more than a decade ago - led to an important package of EU reforms, in particular applying to banks.11 For larger banks, Banking Union led to the centralisation of supervision – here in Frankfurt with the Single Supervisory Mechanism – and resolution under the Single Resolution  Mechanism in Brussels.
Redress and compensation offers cannot be reduced in the event of a customer making an appeal. Lenders have been required to establish independent appeals panels, specifically to deal with customers who are not satisfied with any aspect of the redress and compensation offers that they receive from lenders.