This skewed proposal comes from the National Consumer Protection Agency.
Individuals wishing to borrow from banks or IFNs, prior to accessing credit, may be required to prove, by filling out a questionnaire, that they have a minimum level of financial knowledge. The ANPC wants to develop a standard law in this regard.
“These days, a meeting was held between the Vice-President of the National Consumer Protection Authority (ANPC), Sebastian Hotka, the Romanian Association of Banks (ARB) and the Association of Financial Companies in Romania – ALB, to find joint solutions to support consumers in obtaining loans in Romania.
Among the topics addressed, on the proposal of the ANPC, is the need to carry out, on a real level, financial education, prior to obtaining a bank loan, by the natural consumer, by filling out a questionnaire revealing his minimum knowledge of the concepts included in the contract, and before Everything, the risks to which he is exposed, in case of delay in repaying the loan.
It was emphasized that it is very important that this stage also provides for the obligation of the bank to analyze the creditworthiness of the consumer, for the duration of the loan, taking into account objective elements that can interfere in a person’s life: increased expenses due to the birth of one or more children, a decrease in the ability to work as a result of old age and others.
In the case of IFNs, it is necessary, also by normative law, to detail the terms of payment and the risks to the consumer in the event of impossibility of payment.
It is also very important to explain the meaning of the indicators ROBOR and IRCC, at the time of the conclusion of the credit agreement, and how their development can affect the level of current instalments.
Another theme of the meeting was the need for full transparency, on the part of credit institutions, of real information for consumers regarding access to insolvency proceedings for natural persons, in the event they become unable to pay, a fact that creates a benefit in the consumer burden. According to the insolvency proceedings, it is protected for a period of 5 years, during which the repayment plan is implemented, that is, all enforcement proceedings are suspended, during this time period, with the possibility of extending the period for another year.
“In order to properly and completely inform consumers, financial instruments, which are not very easy to understand for everyone, must be explained as clearly and in detail as possible, so that we can ensure that obtaining a loan, over a long period, is educating, especially from the perspective of Obligations of consumers.
I think that information on these topics should be a priority, in order to get rid of difficult situations that citizens can end up with during loan repayment ”- Sebastian Hotka, Vice President of ANPC.
Representatives of the financial environment were very receptive to the proposals made by the Palestinian National Petroleum Agency, noting that banks, so far, are conducting financial awareness campaigns. In response, Sebastian Hotka reiterated the position of the ANPC, which considers this an insufficient measure, and has not achieved its goal, a fact evidenced by the large number of complaints related to the previously described cases.
In the shortest possible time, discussions will continue in order to embody, by common agreement, the proposal of a normative law providing for all these aspects, for the benefit of all, consumers and institutions carrying out lending activity”, ANPC sent in – a press release.
This topic was discussed in Realitatea Plus on Laurentiu Botin’s show
Sebastian Hotka, Vice President of ANPC, has started a live broadcast on Realitatea Plus to promote his project.
It’s not normal for the ANPC to shift responsibility from its shoulders to the shoulders of the common man, said Mario de Mezzo, vice president of PNL Sector 5.
“The task of the state is not to turn us citizens into financial experts. The state’s job is to protect us from abusive terms, fraudulent contracts, and so on. With this questionnaire you are trying to transfer responsibility from your shoulders to the shoulders of the citizen. My job as a citizen, if I get a car loan, is not to go play the financial markets because I have become a financial expert. none of my business.
Mario de Mezzo, Vice President of Sector PNL 5 said. In addition, the liberal said it is very important to do this financial education, but that this should be done in schools, not to give exams when we take credits.
“Do your job, sir! You are the national consumer protection authority. Your job is to protect consumers, and to make sure people are protected!” Mario de Mezzo added.
TV producer Laurentiu Botin said that such an initiative – to take financial literacy tests when you go for a loan – is actually something for the bank and the common man at risk.
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