Lawyer: Banks are forced to teach financial education, Romanian state does not assume this role

Banks are forced to teach financial education because the state does not assume this role, says Andrei Burz-Pînzaru, Managing Partner at Reff & Associates, member of Deloitte Legal network, within “The Financial Conference 2019”.

“This financial education impacts banks’ profit and has a knock-on effect on lending,” he adds. “Credit costs rise, and the state can help lower credit costs if it assumes the financial education of the population.”