Consumer credits – still very risky deals

(Prague, August 7, 2012) The new act stipulating the obligations of consumer credit providers and intermediaries has been in force since January 1, 2011, but the Czech Trade Inspection Authority finds out breaches of consumer rights in the same rate not only at intermediaries, but also at creditors from the non-banking sector. In 72 of 141 controls of credit contracts and offers or of advertising on provision or intermediation of a consumer credit which were carried out within the first half-year of 2012, the CTIA inspectors found breaches of obligations stipulated by the Act on Consumer Credit or other laws. With regard to the high rate of breaches and risks of these contractual relationships concluded mostly by consumers in financial need and intermediated or offered by non-banking subjects, the CTIA has continued in its control activities also in the second half-year.

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0807-pr-consumer-credit-1halfyear-2012.doc (, 59.00 KB)

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