Argument (#01-02 January-February 2012)

Ukrainian Parliament Attempts to Enhance Regulation of Consumer Lending

by Yulia A. Goptarenko

On 16 October a law introducing amendments to a number of Ukrainian laws governing relations between creditors and consumers of financial services became effective. The law is expected to affect the position of both parties to consumer lending — banks and their borrowers. One of the main developments of the law relates to the renewal of a ban on extending consumer loans in foreign currency on the territory of Ukraine…

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