Act on Consumer Credit was breached more frequently

(Final report of 2013)

(Prague, January 31, 2014) Higher number of breaches of the Act on Consumer Credit and higher fines – this is the summary of results of the Czech Trade Inspection Authority within inspections focused on intermediaries and providers of consumer credit. Violations of applicable legal regulations were detected in 65% of the total of 319 inspections. The Act on Consumer Credit was breached by almost a half of inspected non-banking subjects that intermediate or provide consumer credit. Most frequently, the act was infringed when entities failed to provide obligatory information in advertising on intermediation of consumer credit. Other numerous violations concerned use of unfair commercial practices by intermediaries. When compared to 2012, not only proportion of detected breaches of law, but also amount of imposed sanctions was higher. The Czech Trade Inspection Authority imposed a total of 132 fines amounting to almost 5.6 million CZK while the remaining administrative proceedings were not finished by the end of 2013.

The complete press release is available in the attachment.

Celá zpráva zde:

140131-pr-consumer-credit-2013.doc (, 63.50 KB)

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