Prima pagină » English » Romanian Lower House Passes Consumer Loan Decree

Romanian Lower House Passes Consumer Loan Decree

Romania’s Chamber of Deputies on Thursday adopted the government emergency decree on consumer loans with 134 to 71 votes and 12 abstentions, said MP Ioan Oltean, who presided the plenary meeting.
Romanian Lower House Passes Consumer Loan Decree
Oana Gavrila
23 dec. 2010, 10:02, English

The Chamber’s budget and finance committee adopted Wednesday an additional report on the bill setting that loans underway are not to be affected by changes brought by the bill, except for early loan repayment fees that stay null and loan re-financing is to be negotiated between lender and borrower.

The European Commission sent Romania a letter requesting information on Emergency Ordinance 50/2010 on consumer lending, a preliminary move before triggering infringement procedures, Prime Minister Emil Boc said Wednesday.

In October, the European Commission sent local authorities a letter requesting clarification on the way a European directive is transposed into Romanian legislation through Emergency Ordinance 50, after receiving multiple complaints on the transposition of Directive 84/2008 into local legislation.