Finally. We had already spoken about the dangerous thing that could prove to come to the called financial intermediaries or companies of reunification of loans. The scandalous thing was that these companies could act without the suitable regulation that was making the consumers unprotected.

Since, finally, they have already started working and the Government has approved a project of law that regulates the authorization of credits and of mortgage loans for companies that are not financial institutions, as well as the services of intermediation or debt reunification.

There go the most interesting points of this project of law:

• Possibility that the consumer could desist in 14 days, since all the precontractual information will have to be sent to the consumer fifteen days before the formalization of the operation.

• Creation of a state public record of not financial companies dedicated to credit activities.

• Major trasparencia in the tariffs and commissions. It will have to facilitate of detailed form information of “any type of expense” related to the operation.

• Contracts “in writing and with a certain minimal content”. There spread also not financial operators the requirements relative to the public writing for the formalization of mortgage credits.

Written by Javier Marina on Monday, the 7th of July, the 2008th. You can leave a comment, or connect at this entry from your web