MPs approve legislation to smooth settlement process

Competition

The Hungarian parliament today approved changes to rules on consumer loan contracts to smooth the process of settlement necessary under borrowers relief legislation passed last year, Hungarian news agency MTI reported.

The modifications append rules on public interest litigation regarding the law on settlement, which requires lenders to compensate retail borrowers for making unilateral changes to contracts, the news agency added.

The parliament approved another legislation today that allows banks to apply negative interest rate to deposits of legal persons in accordance with international practice.

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