Client Alert
Newly adopted law on protection of consumers against excessive interest
MORE REASONS FOR CONCERN RATHER THAN BENEFITS?
Romania recently adopted a new law to protect consumers from excessive interest. It is scheduled for a constitutionality review next week on 10 June 2020. If it survives the review, it will impact financial creditors such as credit institutions, non-banking financial institutions and debt collection entities.
It also regulates:
- requirements for the mandatory amendment of certain credit contracts and
- illicit commercial practices.
To learn more, please open the attached file.
Read the full text
