Bierecki , the former head of the National Fund Credit Unions (PiS ) , said that those which have received loans at credit unions , and they can not get credit at banks , will be returned to the institution of an usurious . – This will be the effect of this regulation – he warned.
Senator said that he knew many people who have fallen into the debt trap by such bodies. According Biereckiego maintain this provision will mean in practice is that credit unions will not be able to help these people get out of debt trap . As a result, these people will go for another loan to a loan shark . – This adjustment removes cross competition . It leads to the fact that banks and credit unions will be as credited by the consumer. This bill is a gift for loan companies , unregulated in Poland – he explained.
PO Senators at a meeting of representatives of the committee asked the Financial Supervision Commission and the Ministry of Finance for clarification. FSA explained that the research credit rating is intended to protect both the borrower and the credit institution . They explained that such institutions do not lend their money , but their clients , therefore, must be protected from risk. According to the FSA amendment also brings the Polish provisions of the Directive on consumer credit .
According to Deputy Finance Minister Jacek Dominik law aims to protect consumers and clarifies that both banks and credit unions should provide loans on the same terms and examine whether it is safe for them . – On the basis of these provisions , and they both have to make a loan on whether the person who takes the loan has appropriate credit – he said. He added that the deletion of the changes lead to a situation where the banks will have to make the loan on the results of the examination of credit , and credit unions – not . He assured that the research credit unions will be able to lead and own methodology.
The amendment regulates the publication of the so-called issues . KNF public warnings that can be found on the Commission website . The project was originally envisaged that the FSA podawałaby warnings in the media of public and private , but the work was abandoned subcommittee published warnings in the media -public . The Act was also a record prohibiting lending to entities that do not have credit ratings.
The Act also regulates the validity term of the information form . The draft agreement , which the customer receives a credit institution , have applied one day . Also clarified the term ” borrowing rate” and the protection of your personal information and data relating to the situation of the customers.
A report on the financial health of banks published in early June by the FSA that money, which support 2.6 million members , and collect over 17 billion zł deposits have a high proportion of non-performing loans within ( FSA estimates it at 30 percent . , And if include bonds acquired by credit unions in exchange for a package of loans – is 37 percent . ) . In addition, half of credit unions at a loss , and 44 of the 55 operating banks must implement recovery programs.
That is why politicians finally agreed that the law governing credit unions requires change, and the supervision of such institutions can not lie solely in the hands of private individuals.
Senate budget committee and the public finances on Tuesday, worked on the amendment of the Act on the Supervision of Financial Market . The Act provides, inter alia , that the consumer loans to evaluate the creditworthiness of customers .
I do not like the PiS senators
This approach was strongly criticized at a meeting of the Senate Law and Justice Committee . Henry Cioch said that this provision will only credit unions , because it’s the only institution legally authorized to provide consumer credit outside banks. Currently, credit unions assess credit risk. In his view, the change is not favorable to unions , so by the appropriate correction . – Unfavorable for credit unions in the sense that credit unions would be significantly reduced in consumer lending – he said.