Foreign Currency Loans in Hungary

András Pomeisl

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Chapter 5 Foreign Currency Loans in Hungary

In: Protecting Financial Consumers in Europe

Author:

András Pomeisl

András Pomeisl
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Type:: Chapter

Pages:: 105–122

DOI:: https://doi.org/10.1163/9789004534391_007

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Abstract

Hungarian society was unexpectedly affected by the mass emergence of foreign currency loans in the financial market, thus, their effects and handling provoked heated emotions and debates, despite the fact that disputes over foreign currency-based loans were settled by Hungarian courts in accordance with Hungarian private law traditions and EU law requirements, and both the legislature and the government took a number of measures to prevent and/or remedy adverse effects. However, lawsuits and enforcement proceedings related to consumer loan contracts are still pending before the Hungarian courts, so the practice is dynamically developing and refining.

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Protecting Financial Consumers in Europe

Comparative Perspectives and Policy Choices

Series: Comparative Law in Global Perspective, Volume: 3

Cover Protecting Financial Consumers in Europe

E-Book ISBN:: 9789004534391

Publisher:: Brill | Nijhoff

Print Publication Date:: 15 Feb 2023

Subjects
- International Law

Front Matter

Part 1 Consumer Protection across Different Financial Products

Part 2 Foreign Currency Loans in Europe

Part 3 Financial Ombudsman Bodies and Consumer Protection

Part 4 The Way Forward: Building Consumer Protection through Financial Education

Back Matter

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Chapter 5 Foreign Currency Loans in Hungary

Abstract

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Protecting Financial Consumers in Europe

Comparative Perspectives and Policy Choices

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