Wolf Theiss

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. The scheduled constitutionality review has been postponed to 8 July 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 a) requirements for the mandatory amendment of certain credit contracts and b) illicit commercial practices.

In order to learn more, please download the file below.

 

For further information please contact

Claudia Chiper
Claudia
Chiper
Partner
Romania
Andreea Stoica
Andreea
Stoica
Associate
Romania

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