Will the new amendments to the Consumer Credit Act establish adequate consumer protection, or have the changes come too late?
Questions such as limiting interest rates, margins, and banking fees, as well as capping the amount of allowed overdrafts on current accounts, have raised a lot of dust among bankers and citizens. While some citizens eagerly call for order in the so-called ‘banking arbitrariness’, another part of the public condemns actions such as limiting overdrafts and setting fixed margins. In the relevant Ministry of Finance, they claim that the amendments to the Act bring a series of measures to improve the position of citizens, i.e., consumers, who, as the ‘weaker’ contractual party, face numerous problems in credit relations with creditors, and the burden of blame for this situation certainly falls on the banks.
