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Consumer loans to change. The government has a project

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Consumer loans to be changed: On Monday, the list of legislative and program works of the government was published draft act on consumer credit and amending the Consumer Rights Act. Responsible for the project Office of Competition and Consumer Protection. The act also implements EU Directive 2023/2225.

What will change? The new law is intended to increase the protection of consumers taking out loans. The lending process is to be more transparent. In accordance with the proposed regulations, a warning that taking out a loan involves costs, it is to be mandatory and legible. Will appear too advertising ban suggesting that the loan will improve the borrower's financial situation. That's not all.

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Important information at the beginning: Moreover, according to new regulations the most important information about the loan should appear on the first or second page of the information form. There will also be reminders about the right to withdraw from the contract if pre-contractual information is provided to the consumer less than a day before the conclusion of the contract.

Additional explanations: Before concluding the contract, the consumer will have to receive additional explanations thanks to which he will be able to assess whether the loan is tailored to his needs and financial situation or which indicate the consequences that may be incurred in the event of non-repayment. In addition, the government wants to prohibit default and pre-ticking of boxes on the contract and thus relieve the borrower of the obligation to remember to manually uncheck them.

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Cost ceilings: According to the new regulations, the rules for examining creditworthiness will also be clarified, and the lender will not be able to conclude a consumer credit agreement without the consumer's express consent. The consumer will also have the opportunity to request and obtain a clear and understandable explanation from the lender creditworthiness assessment. There will also be upper limits on loan costs, as such an obligation is imposed by the EU directive on Member States.

Read also: Sharp criticism from Katarzyna PeÅ‚czyÅ„ska-NaÅ‚Ä™cz. More in the text entitled “The minister's outrage regarding the new idea for apartments. 'Where does this stubbornness come from?'”.

Sources: Gov.pl. Interia.



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