Will the Romanian bankers win the battle with clients? |
Autor: Bancherul.ro
2010-12-21 14:56 |
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The disputed OUG 50, a Romanian version of the European directive 48 of consumer credit, is to be adopted by the Parliament in a form contested by clients unhappy about high interest rates some banks are using on existing loans.
Even if the government consumer protection authority had proposed the law to be applied also for existing credit contracts, not only for new ones, as European directive says, in order for bank clients to get lower interest rates, the lawmakers had to comply with IMF requirements to cancel this.
Of course, the coalition in power, PDL, supported by the charismatic and popular president Traian Basescu, will vote the law as a condition to ratify the IMF agreement the country is dependent on, but the opposition parties, the liberals PNL and social democrats PSD are opposing the law.
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