Govt could take different stand on APR cap for credit cards, says PM spokesman
Hungary's government might make an exception for credit card companies with regard to a 30% limit on effective annual percentage rates it wants to introduce for lenders, spokesman for the Prime Minister Péter Szijjártó suggested, answering a question on Tuesday.
Answering a question by a journalist, Szijjártó said it was possible that the National Economy Ministry could take a differentiated stand on the APR cap in the case of credit cards.
Prime Minister Viktor Orbán announced the planned APR cap in the framework of the government's National Protection Plan on Monday.
The Public Administration and Justice Ministry is drawing up the bill on the cap as well as other measures against usurers and will submit it to the cabinet within two weeks, Szijjártó said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.