/View.info/ We are preparing amendments to the law on consumer loans and credit institutions. By the end of October, a bill will be introduced to solve the problems with them.
This was stated this morning to Nova TV by the chairman of the Committee on Budget and Finance in the Parliament, Yordan Tsonev, commenting on the cases with clients who were harmed by the fine print in the quick loan contracts and other violations. According to the MP from the ruling majority, the issue should be resolved even before the adoption of the 2014 Budget.
Tsonev specified that fast loans are granted by non-bank financial institutions, not by banks. According to him, their number in the country has increased threefold and they are now 157. Many of them give loans for small amounts that do not fall within the scope of the Law on Consumer Credits, the People’s Representative from DPS also pointed out.
The managers will think about introducing a licensing regime so that these companies are subject to control by the BNB. They are also thinking about introducing a cap on the interest rate on loans granted.
Work is also underway on the regulation of relations between banks and borrowers. Two bills are being prepared there, Yordan Tsonev said on the phone.
“As long as there are people in this world who are ready to sign a blank piece of paper and not receive a copy, there will be someone who abuses it,” commented the economist Georgi Ganev in the morning block of Nova TV, who also follows the case with the fast loans According to him, a general lawsuit should be filed by the injured customers of “Profi Credit“.
“An experienced lawyer will always find some loophole. If a lawsuit is filed, this company will most likely cease to exist,” Ganev noted. “I don’t know if there is a violation of the law, but there is certainly bad faith.”
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