15:24 9 July 2019
Post by: WBJ

FPP: Anti-usury law will limit the activities of banks

FPP: Anti-usury law will limit the activities of banks
source: Wikipedia

The latest bill on amending certain laws to counter usury will limit the possibility of banks granting minor loans, the Federation of Polish Entrepreneurs (FPP) pointed out. In addition, it may affect the development of the shadow economy in the field of loans. According to FPP, the project does not regulate the activities of pawnshops, which is extremely negative for market ordering.
According to the new project, the interest rate on loans will not exceed 10 percent annually. Such a rigorous requirement is not possible to be met by banks, which will prevent them from granting loans and thus exclude them from this market segment, the Federation stressed.

anti-usury law

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