Govt could take different stand on APR cap for credit cards, says PM spokesman

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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.

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