ABUSIVE LOAN CLAUSES
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Banks-Insurance
Romania Central Bank: Class Actions Against Banks Won’t Undermine Financial Stability
Romania’s central bank has notified the Justice Ministry of its conclusions regarding an impact study of potential collective lawsuits against commercial lenders, which shows the financial stability of the banking system would remain intact despite significant...
Banks-Insurance
IMF: Romania’s Planned Norms On Abusive Loan Clauses Could Undermine Financial Stability
Romania’s planned amendments to the Civil Procedure Code allowing consumers to denounce in court potentially abusive clauses introduced by service providers, including banks, should be balan...