Shortcomings concerning offers of consumer credit

(Partial report for 2nd quarter of 2014)

(Prague, August 29, 2014) In the 2nd quarter of 2014, inspections of contracts concluded pursuit to the Act on Consumer Credit continued within inspections of intermediaries, credit providers as well as other subjects, including inspections of offers and advertisement on consumer credit. In 57 cases, one third of inspected entities met the legal requirements while breaches detected in the other two thirds of cases varied, however half of the detected shortcomings concerned the Act on Consumer Credit. “The most significant violation of obligations was the use of bill of exchange to ensure repay of consumer credit. Incomplete or wrong information provided by the creditor can significantly influence consumer’s decision concerning conclusion of consumer credit contract. Sanctions would correspond with the social danger of the detected shortcomings,” said Mojmír Bezecný, the Director General of the Czech Trade Inspection Authority.

The complete press release is available in the attachment.


Celá zpráva zde:

29-8-2014-consumer-credit.doc (, 60.50 KB)

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