Dan Voicu, a president of the National Authority for Consumers' Protection in Romania, wants to cut on the bankers' freedom. The Authority is working on a law draft to impose a strict commission and clear rules on the interest to be paid by the Romanians with bank credits. The project is due over a month.
The Authority will also come up with a Code of Good Practices for banking.
According to the initiative, the bank's interest to a certain product will come from the bank's interest plus a profit rate impossible to modify. The bank will have the obligation to announce the customers about any change of costs. And the customer will have several options available: pay for the commission and continue with the loan, pay the entire credit or transfer to a different bank.
The Authority decided to proceed to restore order in the banking system from the customers' side, after having received 700 complaints and after having checked on 20 banks. Given the flaws unveiled, 14 banks were fined reaching 150,000 RON per total. (...) (F.B.)