Закон України «Про споживче кредитування»: нові стандарти захисту прав позичальників
Law of Ukraine «on consumer lending»: new standards for protection of rights of the borrowers

Summary/Abstract: The issue of legal regulation of consumer lending has been studied taking into account the provisionsof the Law of Ukraine “On consumer lending” and the legislation of the European Union in the aspectof harmonization of Ukrainian legislation with the legislation of the European Union and internationalstandards. The criteria of qualification of credit relations as consumer are established. The legal statusof the participants in consumer lending relations is determined: the lender, the consumer, the credit intermediaries.The emphasis is on the information obligations of the lender to the consumer. The conditionsof the consumer loan agreement are analyzed, in particular, the conditions regarding the size of the realannual interest rate and the total cost of the loan to the consumer at the date of the contract conclusion.The content of consumer rights for refusal from the consumer loan agreement and early repayment ofthe loan are considered. The guarantees of consumer rights protection of credit services are disclosed bothbefore the conclusion of a consumer loan agreement and during its execution. The provisions of the legislationconcerning the specificity of establishing the order of repayment of claims under a consumer loanagreement and the legal limitation of consumer liability are maintained.

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