The Franak Association warned on Monday of additional problems that, as they say, arise from the deficiencies in the legal provisions regarding the conversion of loans in ‘Swiss francs’ and the actions of banks, the removal of which would mean that “there would finally be no objections”.
These are eight comments and proposals, such as the suggestion to extend the deadline for consumers to accept the conversion calculation, “due to a number of irregularities that have appeared in the conversion offers,” it is stated in the Franak statement.
The association also points out that banks, in their opinion, “clearly violate the law by not recognizing all debtors as clients,” as well as that, as they say, “Sberbank manipulates the buying and selling exchange rate for calculating the initial principal in euros.”
They also state that it is necessary to prescribe a deadline within which the bank must conclude an annex to the contract with the consumer upon acceptance of the conversion, but also to further regulate that all contractual provisions that generally do not fall under the conversion or derogate the rights of consumers are null and void.
It is necessary, they believe in Franak, to more thoroughly regulate the issue of canceled loans and to enable them to be reprogrammed and repaid, even with the cancellation of default interest, as the cancellation would not have occurred if the conversion had been carried out on time.
They warn of the need to regulate the obligations between the bank and the creditor who has taken over the collection of debts (sale, assignment of debt, insurance) and state that it would be simplest for the banks that were creditors to make the necessary calculations and annexes, “because it is questionable how capable new third-party creditors who are not banks are in preparing all the necessary materials for the conversion.”
