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PSzÁF files suit against New Chance

Hungarian financial market regulator PSzÁF on Tuesday said it filed suit in the Budapest Municipal Court against financial service provider New Chance Zrt for unfair conditions in its contracts.

PSzÁF has asked the court to invalidate some unfair conditions in New Chance's contracts with clients. Among the condition PSzÁF noted were ones that give the company the right to unilaterally break contracts or extend them.

PSzÁF brought the case as the result of an investigation of twelve financial services companies it fined on February 16, 2010. (MTI-Econews)