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Considerations on unfair terms in bank credit contracts

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  • Roxana Chirieac

    (Titu Maiorescu University)

Abstract

Over the last few years, we have seen an increasingly number of case law that was presented before national courts as well as the European Court of Justice concerning unfair terms in bank credit contracts. This subject was raised especially during the crisis in which the swiss francs had appreciated, leading numerous customers that had previously taken bank loans in this currency unable to pay back loans that had risen in almost half their value. Development in international and national legislation, such as Law no. 193/2000 concerning unfair terms in contracts concluded between professionals and consumers, that transposed into our national legislation the Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts, both restricted or banned the use of such practices and were in force long before the crisis was generated. This however did not stop credit institutions from inserting these types of clauses in the contracts that they had concluded. The issue that we aim to treat in this article is whether the recent practices of credit and bank institutions has changed over the course of the last few years, given the development of jurisprudence that most often than not condemns abusive or unfair terms in credit agreements with consumers.

Suggested Citation

  • Roxana Chirieac, 2020. "Considerations on unfair terms in bank credit contracts," Technium Social Sciences Journal, Technium Science, vol. 12(1), pages 101-112, October.
    • Handle: RePEc:tec:journl:v:12:y:2020:i:1:p:101-112
    DOI: 10.47577/tssj.v12i1.1813
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    References listed on IDEAS

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    1. Andreea Stoican, 2017. "Procedural incidents: relinquishing the legal action in the appeal proceedings or in the extraordinary legal remedies," Juridical Tribune - Review of Comparative and International Law, Bucharest Academy of Economic Studies, vol. 7(2), pages 70-76, December.
    2. Lupu Dan, 2014. "The Impact Of Abusive Clauses Litigations On Profitability Of Romanian Banks," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 81-87, October.
    3. Mircea GROZAVU, 2016. "Considerations On The National Case Law Regarding The Control Of Abusive Clauses In The Matter Of Credit Loan Repayment," European Journal of Law and Public Administration, Editura LUMEN, vol. 3(2), pages 19-26, December.
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    More about this item

    Keywords

    credit contracts; unfair terms; consumers; banks;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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