The latest deadline for the introduction of the stipulation was July 1.
The measure was first delayed by the government in January this year, at the request of the International Monetary Fund, which cited the absence of an impact study regarding the new measure.
The central bank also criticized the stipulation that would allow consumers and the consumer protection authority to file class actions against commercial banks over abusive clauses. The central bank argued the norm would cause losses in the local banking system and would endanger financial stability.
In a survey published earlier June, the central bank said commercial lenders are likely to incur aggregate losses of some 5 billion lei (over EUR1.1 billion) following the potential implementation of a regulation allowing collective lawsuits against banks over abusive loan contract clauses.
Should the new stipulation be added to the Civil Procedure, the banks would be forced to modify all contract clauses that might be considered abusive.
Additionally, the new measure might extend to various types of litigations between consumers and service providers, opening the way to possibly thousands of lawsuits by disgruntled consumers.