Romanian President Passes Consumer Loan Act

Romania's Constitutional Court had rejected unconstitutionality claims raised by opposition liberals over the consumer loan law and cleared the bill adopted by the Parliament last week.

Before the bill was adopted, the Chamber of Deputies's budget and finance committee adopted an additional report, 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 that loan re-financing is to be negotiated between lender and borrower.

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