ABUSIVE CLAUSES
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Romania Consumer Protection Authority’s Cases Against Banks Could Turn Into Class Actions
The Romanian authority for consumers’ protection, or ANPC, will try to turn a series of court cases against local banks regarding abusive loan clauses into class action lawsuits, ANPC president Bogdan Nica said Thursday.
Romanians Can Take Banks To Court Over Abusive Clauses As Of October 1
Romanian consumers will be able to denounce in court potentially abusive clauses introduced by service providers, including banks, as of October 1, Prime Minister Victor Ponta said Wednesday...
Isarescu: Abusive Clauses Are Part Of Signed Contracts
The so-called abusive clauses denounced by bank debtors are part of the loan contracts they have signed and therefore should be accepted as such, Romanian central bank governor said Wednesda...
Banks To Lose RON5B If Forced To Vet Contracts For Possible Abusive Clauses
Romanian 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 lawsui...