Reklama kredytu konsumenckiego w świetle ustawy o kredycie konsumenckim
Consumer credit advertising under the Consumer Credit Act
Languages of publication
New credit advertising regulations came into force on December 18, 2011, implementing the Consumer Credit Directive. The Consumer Credits Act provides for what information must be included in advertisements for consumer credit agreements and how that information must be presented. In particular – if an advertisement includes any figures relating to the cost of the credit – a ‘representative example’ must be submitted including the percentage rate, the annual actual rate of interest, any non-interest charges required to be paid for the credit, and the amount of credit. If applicable, also the term of an agreement, the total amount payable, the periodic installments, and the cash price of goods or services financed by the credit must be included in an advertisement. The above information must all be displayed in a clear, comprehensive and prominent way. Sanctions for creditors and credit agents breaching the aforementioned are stipulated under other acts. However, impact of the new regulations on daily praxis on the market seems to be limited. It still happens that the compulsory information is not provided in the advertisements in a way which enables consumers to compare different offers, also due to the official interpretation of regulations.
Publication order reference