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LCF Law Group team participated in the consumer credits investigation organized

05/ 11/ 2021
  LCF Law Group team participated in the consumer credits investigation organized by the USAID Financial Sector Transformation Project. The companys experts analyzed the compliance of banks with the requirements of current legislation. The results of our investigation showed that Ukrainian banks do not always comply with regulations in the field of consumer credits. For example, it is quite common for bank employees not to inform customers about the real annual interest rate, or to report it incorrectly. Of course, this violates the rights of customers. The results of the study contain applicable value for the banking sector, it should help improve procedures and services for consumers - Ihor Kravtsov, partner, head of cross-border litigation, said. Team of the project: Oleksandr Savchenko, Andriy Poddymai, Vitaly Gorodnyuk, Ivanna Artemovich.

LCF Law Group team participated in the consumer credits investigation organized by the USAID Financial Sector Transformation Project. The company’s experts analyzed the compliance of banks with the requirements of current legislation.

“The results of our investigation showed that Ukrainian banks do not always comply with regulations in the field of consumer credits. For example, it is quite common for bank employees not to inform customers about the real annual interest rate, or to report it incorrectly. Of course, this violates the rights of customers. The results of the study contain applicable value for the banking sector, it should help improve procedures and services for consumers”Ihor Kravtsov, partner, head of cross-border litigation, said.

Team of the project: Oleksandr Savchenko, Andriy Poddymai, Vitaly Gorodnyuk, Ivanna Artemovich.

This material is provided by a member company or partner organization of the European Business Association as part of an informational collaboration. The Association is not responsible for the accuracy, completeness, or reliability of the information presented. The views, opinions, and recommendations expressed in this material are solely those of the authors and do not reflect the official position of the European Business Association.

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