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October 20, 2020

 

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Czech Republic: Stricter conditions for non-bank lenders are clearing the market of fraud

22.4.2018 8:02 The Most regional edition of Deník.cz reports that a stricter law on consumer lending intended to combat illegal loans and usury has been in effect in the Czech Republic for a year and a half now. According to a survey by the Czech Banking Association (ČBA) in February, more than half of people seeking credit turn to companies that are not banks for loans, most frequently borrowing to purchase electronic equipment and other general household appliances.

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Czech Govt Agency for Social Inclusion says amendments to consumer loan law will help combat exclusion

30.7.2016 13:47 The recently-approved amendments to the law on consmer loans will transfer supervision of the market in non-bank loans to the Czech National Bank, will limit sanctions for non-payment, and will place greater emphasis on creditors' responsibilities when providing loans. One of the main anticipated benefits of the changes to aid with limiting the indebtedness of the socially vulnerable should be a significant reduction in the number of usurious companies providing credit.  full story




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