Credit intermediaries violate law most frequently

(Continuous report of 3rd quarter of 2015)

(Prague, December 18, 2015) In the 3rd quarter of 2015, inspectors of the Czech Trade Inspection Authority kept inspecting consumer credit from previous periods and carried out other inspections focused on fulfilment of obligations determined by the Act on Consumer Protection. They detected various flaws in almost two thirds of 57 inspections and violations of the Act on Consumer Protection in one third of cases in the evaluated period. 36 on-the-spot fines amounting to 897,000 CZK were lawfully imposed for proven administrative delicts. “Intermediaries of consumer credit breached law most frequently. They didn’t provide consumers with all obligatory information and used deceitful commercial practices again. Credit providers don’t always check debtors properly! Ability to repay. After inspections started, some entities didn’t provide appropriate cooperation to the Czech Trade Inspection Authority,” Mojmír Bezecný, the Director General of the Czech Trade Inspection Authority, described the problems experienced by inspectors within these inspections.

The complete press release is available in the attachment.


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2015-12-18-consumer-credit.doc (, 62.50 KB)

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