On October 25, 2025 the Law No. 189/2025 on Amendments to Certain Regulatory Acts Related to the Protection of Financial Services Consumers’ Rights will come into force. The legal framework is strengthened in the context of the fact that the facts of violations in the financial services market are multiplying, and the NCFM, whose powers from 2023 include responding to these violations, had no real leverage.
The law defines the degree of NCFM intervention and is supported by a rather impressive amount of sums recovered from violators of financial discipline, up to one million lei in serious cases of consumer fraud.
All players in the financial services market – from banks to loan associations – will be obliged to comply with the rules of full informing of clients about the products offered, drawing up contracts and performing services. This implies providing preliminary information for familiarization before signing the contract, explaining the terms and conditions.
Credit organizations will have to provide additional information on consumer credit contracts, especially when they are concluded online or in commercial premises.
Loan agreements will have to include additional provisions aimed at protecting the financial interests of consumers. In the case of floating rate loans, credit organizations will have to clearly explain the terms and procedure for changing the interest rate.
NCFM extends its supervisory powers to savings and credit associations and debt collection companies related to consumer loans.
The regulator will be able to intervene more quickly in the activities of financial institutions to eliminate unfair practices and promises to create a specialized resource where consumers can evaluate the conditions offered by the market and make a choice in favor of one or another participant.
