Mariusz Golecki, the Financial Ombudsman (FO) called on Provident to remove unlawful provisions excluding the obligation to proportional reimbursement of part of the total cost of the loan in the event of early repayment from the cash loan agreements. As stated in the announcement, the FO also expects relevant information to be posted on the website so that all visiting customers can find out about the change and its consequences.
In the opinion of the Financial Ombudsman, such provisions are inconsistent with the Consumer Credit Act. Their use is therefore an infringement of the law.
The Ombudsman recalled that the right of customers to a proportional reimbursement of part of the total cost of the loan (in particular commissions and preparation fees) in the event of early repayment of the loan was recently confirmed by the Court of Justice of the EU. On this basis, customers who took out such a loan after December 18, 2011, demand proper settlement of their loans, if they managed to repay them early. They also benefit from the support of the Financial Ombudsman.