Consumer credit in 2015

(Final report of 2015)

(Prague, February 26, 2016) The Act on Consumer Credit regulates obligations of providers and intermediaries of consumer credit and covers also the area of advertising and credit offers. The nature of advertising as well as inspected individual consumer credit contracts concluded between consumers and various entities from the non-banking sector can significantly differ which is demanding concerning time and expertise of inspection employees. Violations of obligations determined by generally binding legal regulations were detected in almost two thirds of 258 inspections when 40% of the inspected entities breached the Act on Consumer Credit. In 2015, CTIA officers continued inspections launched in 2014 and carried out inspections that weren’t finished in 2016. During the year, 176 fines amounting to more than 9.5 million CZK were imposed to providers and intermediaries of consumer credit for proven administrative delicts. “Flaws were repeatedly discovered not only within offer of consumer credit or its mediation especially through online advertising, but also concerning insufficient pre-contractual and contractual information provided to consumers. Despite a certain decrease of the ratio of detected flaws, we’ll keep monitoring the area of consumer credit in 2016,” said Mojmír Bezecný, the Director General of the Czech Trade Inspection Authority.

The complete press release is available in the attachment.

Celá zpráva zde:

2016-2-26-consumer-credit.doc (, 72.00 KB)

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