Association of Commercial Banks of Latvia (ACBL) is a public organisation, founded in 1992, uniting on voluntary principle the banks registered in Latvia and branches of foreign banks. The main tasks of the Association are coordination in solving banking problems, representation of collective bank interests at public and municipal institutions, at local and international organisations, protection of rights and interests of association's members, participation in improvement of bank legislation. The Association also arranges training and improvement of professional skills of bank employees, provides methodical, legal and consultative assistance to Association members, and organizes exchange of experience in bank operation matters.
The Association includes 23 members 20 of which are banks registered in Latvia, and 3 are branches of foreign banks.
The Association consists of 20 advisory committees, Consulting and Training Centre (CTC), Court of Arbitration, Council for Certification of Specialists of Latvian banks and Ombud.
Consulting and Training Centre was established in 1999, its responsibility is the development of professional training and improvement of qualification of employees of Latvian commercial banks, through organizing long-term and short-term courses, workshops, corporate seminars and consultations.
Court of Arbitration was established in 1993 to resolve disputes concerning the provision of financial and other issues related to commercial bank activities. Dispute resolution is referred to the Court of Arbitration when the parties have agreed so as provided by the law.
The Ombudsman Institution of the Association of Commercial Banks of Latvia works with the complaints of credit institution customers. The Ombudsman is appointed by the Association for the period of three years. He is independent in making the decisions and may not be removed from the office depending on the result of dispute settlement. The Ombudsman shall handle complaints independent of the instructions of either the Association of Commercial Banks of Latvia President, the Chairman of the Court of Arbitration or any other officials.
The decisions of the Ombudsman Institution have the permissive nature. The Ombudsman considers different types of claims among which there are claims lodged by a customer who is not a credit or a financial institution; the cases when the subject of claim is either the crediting of cashless funds to an account or a transaction by electronic means of payment; the claims concerning the activities of Latvia-registered credit institution; the claims not related to issues concerning counterfeit documents; when the amount of the contested transaction of the total amount of obviously related transactions does not exceed EUR 50,000. There are other rules which should be followed in accordance with «The Procedure of Consideration of credit institutions customers claims at the Ombudsman Institution of the Latvian Association of Commercial Banks (bylaws)». Further information on the Ombudsman can be found on the web-site of the Latvian Association of Commercial Banks.