The NCFM believes that OTP Bank violated the provisions of the Law No. 202/2013 on consumer loan agreements, which, in particular, guarantee the debtor’s legal right to early repayment of the taken loan. The bank’s failure to observe the debtor’s right to early repayment at any time and without additional conditions, such as “with a prior notice 10 banking days before the planned repayment”, is a gross violation of the borrower’s right, the supervisory authority said in a statement.
The NCFM also found that some provisions of CB OTP Bank’s loan agreements, requiring payments to be made in accordance with the so-called “banking day” instead of the usual “business day”, as well as provisions unreasonably restricting the debtor’s freedom to enter into loans or provide guarantees without prior consent of the creditor, are abuses.
The supervisory authority applies to the courts to invalidate these provisions of the loan agreement and to restore the legal rights of the client of the bank in question.
