Other material

  • Other material
    • Member State: Latvia
    • Title: Guidelines on Fair Commercial Practice in the Sphere of Consumer Credit
    • Emanating from: Patērētāju tiesību aizsardzības centrs (Consumer Rights Protection Centre)
    • URL: http://www.ptac.gov.lv/upload/fin_vadlinijas_komercprakse.pdf
    • Keywords: advertisement, Consumer Credit Directive, financial services, investments, misleading advertising
  • Directive Articles
    Unfair Commercial Practices Directive, Chapter 2, Article 5, 4., (a) , Unfair Commercial Practices Directive, Chapter 2, Section 1, Article 6, 1. , Unfair Commercial Practices Directive, Annex I, 20. , Unfair Commercial Practices Directive, Chapter 2, Section 1, Article 7
  • Headnote
    These guidelines are intended for consumer credit services providers and providers of marketing services. The general aim of the guidelines is to ensure that persons involved in providing consumer credit services would adhere to the relevant laws and regulations, including specific regulation towards consumer oriented advertising and provide their services in a fair commercial manner. The main focus of the guidelines is oriented on advertising of consumer credit services touching upon requirements towards advertisements featuring numeric information on credit expenses or percentage rates. Requirements towards the outlook of an advertisement, e.g, minimal letter size, number of words used in the text, are also touched upon. Furthermore guidance and specific examples are provided in regard to advertising of credit services inviting a consumer to take an uninformed or unnecessary credit taking decision or without evaluating his or hers ability to repay the credit. Other means of consumer credit advertising considered unfair commercial practice by the regulatory authority are also explained in the guidelines and the relevant examples are further provided.
  • General Note
  • Full text
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