ANPC won the lawsuit filed by Procredit Bank, through which it contested a sanction applied by the authority for credit contracts concluded through unfair commercial practices.
Procredit Bank had been fined by ANPC
“JThe district court of Bucharest 1 decided, on February 9, 2024, in file no. 25507/299/2023, ca maintain provisions to the minutes of the finding of the contravention, which the National Authority for Consumer Protection (ANPC) issued to Procredit Bank and which was contested by the economic operator, in court“, the press release states.
Following the control action carried out by ANPC in April 2023 at the mentioned bank, the commissioners found irregularities, which required the application of a contravention fine in the amount of 50,000 lei.
“Not too long ago, we were called functionally illiterate, at the very least, by people directly or indirectly linked to the banking system. It was then explained to us how unprepared my colleagues and I personally are, in relation to the loans given to consumers. Here is a first court embraces the Authority’s point of view and gives justice to consumers. The financial burden of some is the benefit of others, those who sponsored the firing of claims against us. There is justice for the puppies, even if the dogs don’t want it!“, said Horia Constantinescu, ANPC president, quoted in the press release.
The control team requested three credit agreements for each type of product granted in the period 2019-2022, which recorded at least one partial repayment in advance, and three credit agreements with full repayment in advance. After analyzing them, an unfair commercial practice was identified – respectively, a misleading action, using false or inaccurate information and a misleading way of presentation, likely to mislead or likely to mislead the average consumer, so that either determines, or is likely to cause him to take a trading decision that he would not otherwise have taken, as defined by the legislator.
The ANPC commissioners also proposed the measure to stop the unfair commercial practice by the financial-banking economic operator, by which it is required to issue new repayment schedules, where the principal of the loan due must be paid by consumers in equal installments over the entire period of lending in relation to the interest related to the credit, so that average consumers can benefit from equality between the parties to the contract, but also for the existence of contractual balance, so that consumers can make an informed trading decision and anticipate any cost or method misleading calculation.
“As a result of the economic operator contesting the administrative act applied by ANPC, which led to the suspension of the application of the sanctions it contains, the court rejected the contravention complaint as unfounded and upheld the provisions of the minutes issued. The decision can be appealed by right of appeal within 30 days from communication“, the statement also states.