Consumer Credit other than for House Purchase Regulation in the Czech Republic and Selected EU Countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F20%3A50016859" target="_blank" >RIV/62690094:18450/20:50016859 - isvavai.cz</a>
Result on the web
<a href="https://digilib.uhk.cz/bitstream/handle/20.500.12603/282/Soukal%20aj..pdf?sequence=1&isAllowed=y" target="_blank" >https://digilib.uhk.cz/bitstream/handle/20.500.12603/282/Soukal%20aj..pdf?sequence=1&isAllowed=y</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.36689/uhk/hed/2020-01-081" target="_blank" >10.36689/uhk/hed/2020-01-081</a>
Alternative languages
Result language
angličtina
Original language name
Consumer Credit other than for House Purchase Regulation in the Czech Republic and Selected EU Countries
Original language description
A transposition of 2014/17/EU changed consumer credit markets throughout the EU. In the Czech Republic the transposition by the act 257/2016 Coll. was taken as an opportunity to unify regulatory framework for all consumer credit regardless of a purchase purpose. At the same time this regulatory framework extension was motivated by adverse phenomena in a non-bank consumer credit sector such as predatory and usurious practices (regulatory arbitration, abuse of the social distress of debtors, credit cost obfuscation, pre-contract payments, insufficient or even none creditworthiness assessment and more). These issues were addressed by the market entry public regulation including employee’s professional qualification requirements. The paper compares professional qualification regulation approach in the Czech Republic and eleven selected EU countries. In the Czech Republic, Hungary, Greece was adopted the public regulation approach which combines national regulator supervisory with accredited institutions examination. On the other hand, in Germany and the Netherlands was an approach closer to a private regulation. Croatia and Portugal still did not completely transposed 2014/17/EU and are facing a legal procedure from the Court of Justice of the EU. In the Czech Republic a new regulation significantly decreased a number of non-bank consumer credit providers and their market share is diminishing since the last economic crisis. Yet, a new option of regulatory arbitrage for predatory creditors appeared although with a very limited impact on the market.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
—
OECD FORD branch
50206 - Finance
Result continuities
Project
—
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Hradec economic days 2020/1
ISBN
978-80-7435-776-3
ISSN
2464-6059
e-ISSN
2464-6067
Number of pages
9
Pages from-to
712-720
Publisher name
University of Hradec Králové
Place of publication
Hradec Králové
Event location
Hradec Králové
Event date
Apr 2, 2020
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000568108700080