consumer loans

Romanian Constitutional Court Clears Consumer Loan Law

13:33, 28 Dec. 2010
Romania’s Constitutional Court on Tuesday rejected unconstitutionality claims raised by opposition liberals over the consumer loan law and cleared the bill the Parliament enacted last week.

Romanian Opp Liberals To Challenge Consumer Loan Bill At Constitutional Court

10:09, 23 Dec. 2010
Romania’s opposition Liberal Party will notify the Constitutional Court Thursday on the government emergency decree on consumer loans, said liberal MP Eugen Nicolaescu.

Romanian Lower House Passes Consumer Loan Decree

10:02, 23 Dec. 2010
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.

EU Starts Infringement Action Against Romania On Consumer Loan Act

19:58, 22 Dec. 2010
The European Commission sent Romania a letter requesting information on Emergency Ordinance 50/2010 on consumer lending, a preliminary move before triggering infringement procedures, Romanian prime minister Emil Boc said Wednesday.

EXCLUSIVE: Romania Govt To Ensure Consumer Loan Ordinance Won’t Affect Ongoing Contracts

14:07, 17 Nov. 2010
The Romanian government agreed to work with the parliament to ensure that its emergency ordinance 50/2010 on consumer loans protects both consumer and bank rights, according to the country’s additional letter of intent to a EUR13 billion loan agreement with the International Monetary Fund.

Romania Ctrl Bank To Ensure Consumer Loan Ordinance Complies With EU Norms

13:44, 04 Nov. 2010
Romania's central bank will make a public presentation at the debates regarding the government ordinance 50/2010 on consumer loans to ensure the act complies with the European directive in the field, central bank governor Mugur Isarescu said Thursday.

IMF: Romania Should Change Consumer Loan Ordinance

12:53, 01 Nov. 2010
The International Monetary Fund and European Commission officials Monday insisted Romania changed its consumer loan ordinance to better suit lenders and customers alike, but declined to specify whether new aid from a EUR20 billion lifeline depends on the act being modified.

IMF Asks Romanian Banks To Assess Impact Of Consumer Loan Law – Sources

15:26, 27 Oct. 2010
The International Monetary Fund and Romania’s central bank have requested local lenders to send data on potential losses following the introduction of a government approved ordinance on consumer loans, people familiar with the matter told MEDIAFAX Wednesday.

Romania Consumer Credit Law Complies With EU Directive – Watchdog

14:14, 26 Oct. 2010
Romania’s consumer protection authority ANPC Tuesday said the country’s ordinance transposing an EU directive on consumer loans observes the community standards and applying it retroactively for existing loans will not damage the client/bank relationship.

IMF Worried About Retroactive Consumer Loan Norms In Romania

13:37, 26 Oct. 2010
The International Monetary Fund is concerned about Romania’s decision to apply the EU directive on consumer loans retroactively, because the measure could lead to “negative effects” for the eastern European country, IMF mission head Jeffrey Franks said Tuesday.

EXCLUSIVE: EC Asks Romanian Authorities To Explain Ordinance On Consumer Loans, After Complaints

19:54, 06 Oct. 2010
The European Commission is asking Romanian authorities for an explanation, after it received complaints regarding the transposition of Directive 84/2008 into Romanian legislation through Emergency Ordinance 50/2010, which requires banks to ensure transparency for current loan contracts.

Romanian Bks May Face Full-Portfolio Provision Booking On Consumer Loans

12:30, 27 Sept. 2010
Romanian banks could be forced to book provisions for all consumer loans granted should they lose even one lawsuit on the application of the Government Emergency Ordinance 50/2010 regulating loan interest rates, the head of the banks association ARB said Monday.

Romania Govt Unlikely To Change Consumer Loan Act – Sources

18:01, 20 Aug. 2010
Romanian government is not likely to amend the existing law on consumer loans, despite its commitment to the International Monetary Fund to reexamine it and make sure its provisions do not apply retroactively, people familiar with the matter said Friday.