Hungary Wants Banks to Compensate All Loan Borrowers

June 27. 2014.

WSJ Emerging Europe - by Margit Feher

Hungary’s government on Friday submitted a draft bill to parliament that widens the scope of its original plan to ease pressure on holders of foreign-currency loans by extending the proposal to holders of local-currency loans. The draft bill, after its likely approval by lawmakers next week, will require banks to compensate customers for unilateral increases to interest rates and charges on both local- and foreign-currency loans. More...

Source: Magyar Kereskedelmi és Iparkamara