Flaws concerning consumer credit

(Partial report of 1st quarter of 2014)

(Prague, June 4, 2014) Results of inspections focused on intermediaries and providers of consumer credit proved high ratio of shortcomings concerning obligations stemming from the Act on Consumer Credit as well as other laws. During 1st quarter, in total 65 inspections were carried out, including 78.5% of cases in which inspectors detected violations of law. Other inspections are still in progress. The total of 49 fines amounting to 2,917,500 CZK was lawfully imposed in the respective period. The most frequent flaws still are the following: breaches of content of advertising on consumer credit, incomplete information provided by intermediaries about extent of their activities as well as the fact that contracts fail to contain information determined by law and other requirements. With regard to numerous shortcomings, inspection of consumer credit will still be one of the most supervised areas of market surveillance.

The complete press release is available in the attachment.


Celá zpráva zde:

2014-06-04-pr-consumercredit-1q2014.doc (, 60.00 KB)

2024 © The Czech Trade Inspection Authority, All rights reserved