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Apr 08
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THE LEGAL NATURE OF THE CREDIT FEES – SUMMARY COMPARATIVE CONSIDERATIONS

Bojan Terzić

10.55836/PiP_22305A
ABSTRACT /

Before a potential assessment of the fairness of the loan fee terms, one must understand their economic essence and consequently their legal nature. Comparative case law shows that while implementing broad legal standards and referring to the purpose of Directive 93/13, courts are reluctant (with some exceptions) to consider the economic background of loan fees and possible wider consequences for consumers caused by the prohibition of those fees. The lack of assessment by the CJEU of the rationale for contracting loan fees, combined with specifics of national regulations, result in a different treatment of these fees in the EU single market. Some national courts completely prohibited them while others allowed them without limitation. Instead of the revisions of price mechanisms through applying the courts’ doctrine, the consumers’ interest above all demands intense competition and banking services more adjusted to the needs of their users.

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