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The CNB said in a press launch right now that it revoked the license to function from the non-bank client credit score supplier Truthful Credit score Czech, s.r.o.
In response to the central financial institution, the reason being the truth that the corporate didn’t maintain right and full accounting within the accounting 12 months 2022, in addition to data of client loans offered. “It was a repeated and critical violation of the obligations set out within the Shopper Credit score Act. Truthful Credit score Czech was already fined CZK 3,000,000 in 2023 for a critical violation of the Shopper Credit score Act,” states the financial institution.
From June 21, 2024, when the decision turns into ultimate, Truthful Credit score Czech might now not present client loans or carry out different associated actions. Exceptions are actions essential to settle claims and liabilities. “Nonetheless, it may well accumulate claims and perform actions to terminate the actions of the buyer credit score supplier, except that is prevented by different authorized details (e.g. a courtroom choice),” CNB explains.
If the corporate had been to grant new loans, they’d be seen as interest-free and the corporate wouldn’t be entitled to every other funds related to the availability of the mortgage. In such a case, the corporate would additionally face a fantastic of as much as 20 million crowns from the CNB.
Seznam Information beforehand described intimately the occasions surrounding this firm, particularly the struggle for its takeover, wherein a number of corporations had been concerned.
Amongst different issues, it was about who would have management over the gathering of loans with appreciable curiosity. Truthful Credit score Czech lent folks an quantity that shouldn’t be removed from one billion crowns. In response to data from the insolvency register, the corporate ought to accumulate round 70 million crowns from debtors each month.
At 10:15 a.m. on Friday, the corporate’s web site continued to function as traditional and provided loans.
Truthful Credit score’s presentation on the shopper’s hypothetical query “Can I belief you?” Do you have got a CNB license?” she said – “You’ll be able to undoubtedly belief us. We obtained a license from the CNB in 2018. On the identical time, we’re members of APNÚ – Affiliation of Non-Financial institution Credit score Suppliers, whose purpose is efficient client safety towards lenders who don’t deal with shoppers pretty.”
