National Authority for Consumer Protection (ANPC) announce entry into force on November 11, 2024, of Law no. 243/2024 provide consumer protection regarding the total cost of credit and the assignment of receivables.

The normative act regulates so much mortgage interest, how much and of those For consumption, offered by non-bank financial institutions (NFIs).

If mortgage loans for real estate investments, we specify a provision of this law:

If consumer loans, we also mention some of the most important provisions of the normative act:

As an exception to this provision, 3 thresholds have been established, in the case of consumer loans, whereby the total payable value cannot exceed double the total value of the loan concurrently with:

"The entry into force of this law represents an essential step in strengthening the protection of consumers in Romania, offering them tangible support in the face of the challenges of credit costs. By implementing clear regulations and establishing fair thresholds, consumer access to fair financial solutions, competitive interest rates and full transparency in the relationship with non-banking financial institutions is guaranteed. Respecting consumers' financial rights is not only a legal responsibility, but also a fundamental principle of ethics and social responsibility." – Sebastian Hotca, interim president of ANPC.

If the interest rates are higher than previously provided, these must be reduced, at the request of consumers, either amicably, or after appealing to the state institutions with attributions in the field.