New Law In Hungary On Credit Insitutions To Favour Customers

  • 27 Nov 2013 3:00 AM
New Law In Hungary On Credit Insitutions To Favour Customers
The new law on credit institutions will aim to enhance the security and stability of the financial sector as well as being conducive to balanced, consumerfriendly services, state secretary of taxation and finances Gábor Orbán told Parliament on Tuesday.

Once approved by the House, the law will contain stricter rules on consumer protection. The duration of all mortgages will become extendible free of charge.

From 2014 on, credit institutions terminating mortgages will be obliged to give the customer final-status accounts, he said.

Further, customers will be allowed to replace their mortgages taken out previously for credit products of more transparent pricing, the state secretary said.


Source www.hungarymatters.hu

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