Deputies adopted the law on consumer crediting

The deputies adopted the law of Ukraine «On consumer credit».

The corresponding decision on Tuesday 15 November was supported by 247 people’s deputies, reports «UKRINFORM».

«The purpose of this Act is to protect the legitimate rights and interests of consumers and lenders, establishing a proper competitive environment in the financial services markets and enhance its credibility, ensuring favorable conditions for development of economy of Ukraine, harmonization of Ukrainian legislation with European Union legislation and international standards», — mentioned in the document.

According to the law, the consumer loan agreement — loan contract the lender undertakes to grant a consumer credit in the amount and on terms stipulated in the agreement, and the borrower agrees to repay the loan, pay interest on the loan and other payments on the terms stipulated in the agreement.

It is noted that in consumer credit agreements, the penalty for non-fulfillment of obligations concerning repayment of the loan and interest thereon may not exceed double discount rate of the National Bank of Ukraine, which operated during the period for which you pay a fine, and may not exceed 15 percent of the overdue payment.

The law also specifies that State regulation and supervision in the sphere of consumer crediting will be implemented by the bodies exercising state regulation of financial services markets in accordance with the law.

The real annual interest rate, according to the law, is calculated in accordance with the regulatory legal acts of the bodies which carry out state regulation of financial services markets. For the purposes of calculating the real annual interest rate determined by the total cost of consumer credit.

«In the total cost of consumer loan shall be included, in particular, payments for additional services of lender (including account management) that the consumer pays associated with obtaining, servicing and repayment of the credit, calculated on the date of conclusion of the contract on consumer credit, which are binding for the contract on consumer credit, as well as for the services of a credit intermediary (if any)», — stated in the document.

In the case that the costs of additional or related services the lender, which is required for concluding a contract on consumer credit, or a credit intermediary (if any) were not included in the total cost of consumer credit, payments for these services are not payable by the consumer.

If the consumer loan agreement contains terms that allow you to change the interest rate or other payments for the services of lender, included in the total cost of consumer credit in the calculation of real annual interest rate, and the change cannot be determined at the time of calculation of real annual interest rate is calculated based on the assumption that the interest rate and other fees the lender will remain unchanged and apply during the term of the contract on consumer credit.

«If a consumer loan agreement provides a variable interest rate, the lender shall, in writing, to inform the consumer, the guarantor and others obligated under the contract to persons on change of such rate not later than 15 calendar days prior to the date from which to apply the new rate. Such notification must contain the basis of changes in the interest rate, new interest rate and the date from which to apply the new rate» — referred to in the law.

This act shall enter into force six months from the date of its publication.

As reported recently by the Cabinet of Ministers of Ukraine approved the kits food kits non-food products and sets of services for basic social and demographic groups of the population. In the message, which is attached to the text of the resolution, noted that the government’s decision to increase the consumption of some foods (cereals, meat, fruits), increased the number of individual items in the kits of non-food items (clothes, shoes) and reduced the time you use them. Revised sets of daily necessities, sanitation and medicines, housing and communal services and communication services.

Recall that in late September the head of the National Bank of Ukraine (NBU) Valeriya Gontareva expressed the view that the resumption of full-scale lending in Ukraine should be expected in the following years.




Deputies adopted the law on consumer crediting 15.11.2016

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